On January 1, 2020, Sandhill Company purchased 12% bonds, having a maturity value of $325,000 for $349, XXXXXXXXXXThe bonds provide the bondholders with a 10% yield. They are dated January 1, 2020,...

On January 1, 2020, Sandhill Company purchased 12% bonds, having a maturity value of $325,000 for $349,639.81. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Sandhill Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale category. The fair value of the bonds at December 31 of each year-end is as follows.

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