On January $1,20$x$1,$ Duchach purchased $9\%,3-$year bonds having a face amount of $$300,000$ for a price of $$278,384.$ The interest is receivable annually on December $31.$ The market rate is $12\%.$ The bonds are classified as financial assets at fair value through other comprehensive income. Fair value of the bonds is $$290,000$ and $$299,000$ at the end of $20$x$1$ and $20$x$2,$ respectively.

$1.$ Present an entry to record the purchase of the bonds on January $20$x$1.$

$2.$ Calculate the interest revenue for $20$x$1.$

$3.$ Present an entry to recognize interest expense on December $31,20$x$1.$

$4.$ Present an entry to report the bonds at fair value on December $31,20$x$1.$

$5.$ What is the carrying amount of FVOCI financial asset on December $31,20$x$1.$

$6.$ Calculate the interest revenue for $20$x$2.$

$7.$ What is the carrying amount of FVOCI financial asset on December $31,20$x$2.$