On December 31, 2021, Paul Corp. acquired $200,000 of 8% bonds of Sam Ltd. at a price to yield 6%. The bonds mature on December 31, 2022 with interest payable each June 30 and December 31. Paul Corp. follows IFRS and uses the FVNI model for this investment. On December 31, 2018 the bonds are selling at a price to yield 5.6%.

Required

1. Prepare the journal entry to record the acquisition of bonds on December 31, 2021, and round all values to the nearest dollar. 
2.  
3. Prepare the journal entry to record the receipt of interest on June 30, 2022 and December 31, 2022, and round all values to the nearest dollar. 
5. Prepare the journal entry to record the December 31, 2022 revaluation entry, and round all values to the nearest dollar.