On July 1, 2015, Star Inc. acquired the following bonds, which Star Inc. intended to hold to maturity:

BONDPriceface amount purchasedGlobal Filter Corp. 12% bonds, maturity date December 31, 2019114.5$440,000Weber Inc. 8% bonds, maturity date, December 31, 202396500,000

Both bonds pay interest annually on December 31. Premium and discount will be amortized on an effective interest basis. Assume a market rate of 9% and Star Inc. follows IFRS. Please make sure your final answer(s) are accurate to 2 decimal places. 1) Prepare the following journal entries to be made on their correct dates in 2015: a. The acquisition of the investments. Accrued interest was paid on the acquisition dates, as appropriate. b. The receipt of interest and the amortization of the premium or discount for Global Filter Corp. c. The receipt of interest and the amortization of the premium or discount for Weber Inc. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan).

Here is the correct journal entries.

Date Account/Explanation PR Debit Credit 1/Jul Investments, Dr. Global Filter Corp. bonds 503,800 dr Investments, Weber Inc. bonds 480,000 dr Interest receivable 46,400 cr Cash 1,030,200 a 31/Dec dr. Cash 52,800 cr. Interest receivable 26,400 cr. Investments, Global Filter Corp. bonds 3,729 cr. Interest income 22,671 b 31/Dec dr.Cash 40,000 cr. Interest receivable 20,000 dr.Investments, Weber Inc. bonds 1,600 cr. Interest income 21,600

"Kindly provide a comprehensive explanation for each journal entry, breaking down the calculation process step by step, and elucidating how the specific amounts were derived." thank you i will upvote