On January $1,2020,$ Bridgeport Company purchased $9\%$ bonds having a maturity value of $$290,000,$ for $$313,782\mathrm{.}32.$ The bonds

provide the bondholders with a $7\%$ yield. They are dated January $1,2020,$ and mature January $1,2025,$ with interest received on

January $1$ of each year. Bridgeport Company uses the effective$-$interest method to allocate unamortized discount or premium. The

bonds are classified in the held$-$to$-$maturity category.

$($a$)$

Prepare the journal entry at the date of the bond purchase. $($Enter answers to $2$ decimal places, e$.$g$.2,525\mathrm{.}25.$ Credit account titles are

automatically indented when 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.$)$

Date

Account Titles and Explanation

Debit

Credit

Jan. $1,2020$