Hello,

I would like to get the solution and the answer of this question. I am in a hurry, so quick response will be appreciated. Thank you.

On January 1, 2021, Essential Company acquired $100,000 face value 8% bonds of BC Hydro Corporation to yield 6%. The bonds were dated January 1, 2021, and mature on December 31, 2025, with interest payable each January 1. Essential intends to hold the bonds to maturity. Question 8 (3 points) Listen Prepare the following entries in the books of Essential Acquisition of bonds on January 1, 2021 Prepare the following entries in the books of Essential for the year-end adjusting entry at December 31, 2021 Prepare the following entries in the books of Essential for the receipt of the first interest payment on January 1, 2022