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On January 1, 2024, Rupar Retailers purchased $125,000 of Anand Company bonds at a discount of $8,000 The Anand bonds pay 8% interest but were

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On January 1, 2024, Rupar Retailers purchased $125,000 of Anand Company bonds at a discount of $8,000 The Anand bonds pay 8% interest but were purchased when the market interest rate was 9% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. Rupar accounts for the bonds as a held-to-maturity investment, and uses the effective interest method, In Rupar's December 31, 2024, journal entry to record the second period of interest, Rupar would record a credit to interest revenue of: Multiple Choice $5,265. $5.000. $5,277

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