Crash Ventures purchases a debt instrument at 1 January 2019 with a 5-year term for its fair value of $3,000 (including transaction costs).The instrument has a principal amount of $3,250 (the amount payable on redemption) and carries fixed interest of 5% annually.The effective interest rate is 6.87%, thus the debt instrument was issued at discount. The debt instrument is classified as amortised cost.

Please prepare a schedule of amortisation for Crash Ventures' debt instruments at amortised cost and its journal entries from purchases up until redemption in 1 January 2024.How is this instrument classified as amortised cost based on the IAS 55 / IFRS 9 concept that you have learned?