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On January 1, 2020, Stellar Company purchased 11% bonds, having a maturity value of $313,000 for $337,348.74. The bonds provide the bondholders with a 9%

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On January 1, 2020, Stellar Company purchased 11% bonds, having a maturity value of $313,000 for $337,348.74. The bonds provide the bondholders with a 9% yield. They are dated January 1, 2020, and matur January 1, 2025, with interest received on January 1 of each year, Stellar Company uses the effective interest method to allocate amortized discount or premium. The bonds are classified as available for sale category. The fair value of the bonds at December 31 of each year-end is as follows. 2020 $335,100 2023 $322,600 2021 $321,600 2024 $313.000 2022 $320,500 (a) Prepare the journal entry at the date of the bond purchase (b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2020 (e) Prepare the journal entry to record the recognition of fair value for 2021 (Round answers to 2 decimal places, ... 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required lect"No ndry for the account tities and enter for the amounts.) No. Date Account Titles and Explanation Debt Credit 2000 Reserved CALCULATOR FULL SCREEN PRINTERS (c) Prepare the journal entry to record the recognition of fair value for 2021 (Round answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If ne entry is required, se for the account tities and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit (a) (To record interest received) (To record fair value adjustment) vo Click you would like to show Work for this questioni Open Show Work

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