On December 31, 2016, Concord Corp. acquired an investment in GT Ltd. bonds with a nominal interest rate of 7% (received each December 31), and the controller produced the following bond amortization schedule based on an effective rate of approximately 12%. The bonds mature on December 31, 2019. The company prepares financial statements each December 31 following IFRS and has adopted the provisions of IFRS 9. Management is in the process of determining whether to hold these bonds for their future cash flows in order to repay debt that is also maturing at the end of 2019, or whether they will hold them for trading purposes.

Assume that management determines these bonds will be held until the end of 2019, with the proceeds being used to retire maturing debt. Prepare all journal entries required at December 31, 2016, 2017, 2018, and 2019, including the recognition of interest income and the bonds ultimate redemption. (Round answer to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Amortized cost of GT Ltd. bonds Fair value at each year end $595,073 571,940588,733 $571,940 $650,000 617,844650,000 $620,984 Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Amortized cost of GT Ltd. bonds Fair value at each year end $595,073 571,940588,733 $571,940 $650,000 617,844650,000 $620,984