On 1 July 20X2, King Ltd. purchased $560,000 bonds of Princess Inc. at par. The bonds pay 7% interest annually on June 30. The bonds mature on 30 June 20X9. King has a June 30 year-end. At 30 June 20X3, King assessed that the credit risk of the Princess bonds had significantly increased and that the expected credit losses were estimated to be $25,000. Required: 1. Prepare journal entries for fiscal 20X3 related to these bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet