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can someone please help? On January 1,2025 , Larkspur Company purchased 12% bonds having a rnaturity value of $316,000 for $339,957,48. The bonds provide the
can someone please help? On January 1,2025 , Larkspur Company purchased 12% bonds having a rnaturity value of $316,000 for $339,957,48. The bonds provide the bondholders with a 10% yield. They are dated January 1,2025, and mature January 1, 2030, with interest received on January 1 of each year. Larkspur Company uses the effective-interest method to allocate unamortired 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 followa. (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2025. (c) Prepare the journal entry to record the recognition of fair value for 2026. (List all debit entries before credit entries, Credit occount titles are outoenotically indented when amount is entered. Do not indent menually. If no entry is required, select 'No Entry' for the occount titles and enter 0 for the amounts. Round arowers to 2 decimal places, eg 1225.25
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