LOs 12 and 13 - Investments 1. Savvy Investor Inc. purchased several $1,000 bonds on January 1, 2020. Interest is paid semi- annually on July 1 and January 1. The bonds mature on January 1, 2025. Savvy uses the 10 marks amortized cost method to account for the bonds. Savvy has a year end of December 31 and follows IFRS. Other information pertaining to the investment follows: Face value Coupon rate Market rate on Jan. 1, 2020 72,000 10% 9% Required: a) Determine the amount of cash paid for the bond and prepare the journal entry to record the purchase. b) Prepare the journal entries for the receipt of interest and amortization of the premium on July 1, 2020, and the year-end accrual. Round all values to the nearest dollar. c) To the nearest dollar, what is the carrying value of the investment at the end of 20227