On May 1, 2020, Auto Corp. purchased a five-year, 4.5 percent bond. It intends to hold the bond until it matures. The market rate on the purchase date was 5.2 percent. Interest is paid annually each April 30. Information about the bond appears in the table below. Journalize the purchase and the April 30, 2021, entries.

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Annual Interest Period Interest Discount Unamortized Bond Carrying 1 Interest Period Received 4.50% Discount Balance Value Revenue Amort. May 1, 2020 $30,100 $ 969,900 April 30, 2021 $ 45,000 $ 50,435 $ 5,435 24,665 3 975,335 4 April 30, 2022 45,000 50,717 5,717 18,948 981,052 April 30, 2023 45,000 51,015 6,015 12,933 987,067 6 April 30, 2024 45,000 51,327 6,327 6,606 993,394 7 April 30, 2025 45,000 51,606 6,606 1,000,000 8. Total $225,000 $255,100 $30,100 2. 00