On 1 June 20X8, Ghana Company purchased $8,900,000 of Monaco Corp. 3.70% bonds, classified as a FVOCI-Bond investment. The bonds pay semi-annual interest each 30 May and 30 November. The market interest rate was 4% on the date of purchase. The bonds mature on 30 May 2013 (PV of $1. PVA of $1, and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the price paid by Ghana Company. (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. Construct a table that shows interest revenue reported by Ghana, and the carrying value of the investment, for each interest period for four interest periods. Use the effective interest method. (Round your answers to the nearest whole dollar amount.) Period Cash Payment Interest Revenue Amortization Bond Carrying Value June 120x8 Nov 30, 20X8 June 1, 20X9 Nov 30, 20X9 Jun 1.200 3. Prepare the entries for 20X8 and for 20X9, including the year-end accrual, based on your calculations in requirement 2. (If no entry s required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest vhole dollar amount.) View transaction list Journal entry worksheet 1 2 3 4. 5 6 Record the investment in bonds. Note: Enter debits before credits. Date General Journal Debit Credit 1 Jun 20x8 4. At the year-end, 31 December 20X8 and 31 December 20X9, the fair value of the bonds was $9,100,000 and $8,205,000 respectively. Prepare the entries to record the changes in fair value. (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.) View transaction list Journal entry worksheet