On January 1, 2021, David Corp purchased Philips INC with a face value of US$270,000. Bonds. The stipulated interest rate on TARRA INC bonds is 10%. Interest is paid semiannually on June 30 and December 31, and the bonds mature in 10 years. For bonds with similar risks and maturities, the yield on a specific date is as follows. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1, and PVAD of $1) use the appropriate factors from the tables of each factor)

January 1, 2021, 11.0%

June 30, 2021, 12.0%

December 31, 2021, 14.0%

Answer the questions below by entering your answer in the appropriate table

Required 1 Required 1 General journal Required 2 Required 3

1) Calculate the Price David Corp would have paid for the Philips INC Bonds on January 1, 2021(ignore brokerage fees) and make a journal entry to record the purchase

Bond Fair Value ____________

1) Work on ajournal entry to record the purchase. (If no entry is required for a transaction/event, select "No entry required " in the first account field. Round your answer to the nearest whole number.)

No Transaction General Journal Debit Credit

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2) Record all appropriate journal entries related to the bond investment during 2021, assuming David Corp accounts for the bonds as a held-to-maturity investment. David Corp calculates interest revenue at the effective interest rate as of the date it purchased the bonds. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round the answer and round the final answer to the nearest whole number)

No Transaction General Journal Debit Credit

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3) work on all appropriate journal entries related to the bonds' investment during 2021, assuming that David Corp choices the fair value option when the bonds were purchased and that DavidCorp determining the fair value of the bonds semiannually, David Inc calculates interest revenue at the effective interest rate as of the date it purchased the bonds

No Transaction General Journal Debit Credit

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