chegg on july 1 of year 1, west company purchased for cash, 8, $10,000 bonds of north corporation to yield 10%. the bonds pay 9% interest, payable on a semiannual basis each july 1 and january 1, and mature in three years on july 1. the bonds are classified as afs securities. west company's annual reporting period ends december 31. assume the effective interest method of amortization of any discount or premium.
