On $1$ January $20$X$2,$ Lucky Company purchased $$5,300,000$ of Fire Corp. $4\%$ bonds, classified as a FVTPL$.$ The bonds pay semi$-$annual interest each $30$ June and $31$ December. The market interest rate was $5\%$ on the date of purchase. The bonds mature on $30$ December $20$X$11.$ At the end of $202,$ the bonds had a fair value of $$5,000,000.$

$($PV of $$1,$ PVA of $$1,$ and PVAD of $$1.)($Use appropriate factor$($s$)$ from the tables provided.$)$

Required:

Calculate the price paid by Lucky. $($Round time value factor to $5$ decimal places. Round your intermediate calculations to $2$ decimal places and final answer to the nearest whole dollar amount.$)$

Price paid

$2.$ Prepare the entries for the first year assuming that the investment is classified as FVTPL$.($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.$)$

Journal entry worksheet

$1$

$2$

$3$

Record the Investment revenue for first half of the year.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[1,,,],[,,,],[,,,],[,,,]]$