Make journal entries for recording interest income and interest received and recognition of FV at dec31, 2023, 2024, and 2025.

the entries should be:

to record interest collected (3 lines)

to record Fair value adjustment

to record interest collected (3 lines)

to record Fair value adjustment

 to record interest collected (3 lines)

to record gain or loss

On January 1, 2023, Ayayai Limited paid $467,979.40 for 12% bonds with a maturity value of $435,000. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2023, and mature on January 1, 2028, with interest receivable on December 31 of each year. Ayayai applies ASPE using the effective interest method, and has a December 31 year end. Assume that Ayayai hopes to make a gain on the bonds as interest rates are expected to fall. Ayayai accounts for the bonds at fair value with changes in value taken to net income, and separately recognizes and reports interest income. The fair value of the bonds at December 31 of each year end is as follows: 2023 $464,800.00 2024 $448,050.00 2025 $446,310.00 2026 $441,090.00 2027 $435,000.00