Current Attempt $in$ Progress

Crane Company purchased, $on$ January $1,2025,asan$ available$-$for$-$sale security, $$77,000of$ the $8\%,5-$year bonds $of$ Cinrich

Corporation for $$71,162,$ which provides $an10\%$ return.

Prepare Crane's journal entries for $(a)$ the purchase $of$ the investment, $(b)$ the receipt $of$ annual interest and discount amortization, and

$(c)$ the year$-$end fair value adjustment. $(Assume$ a zero balance $in$ the Fair Value Adjustment account.$)$ The bonds have a year$-$end fair

value $of$ $$73,150O$ for the amounts. Round answers $to0$ decimal places, $e.g.1,225.$