On July 1, 2021. Larkspur Inc. a public company, purchased $580.000 of Blue Spruce Corp. 10-year, 6% bonds for $538,784 to earn interest. The bonds had a market interest rate of 7%. The bonds pay interest semi-annually on January 1 and July 1 Larkspur inc has a December 31 year end. At December 31, 2021, the bonds are trading at 96. (a) Assuming Larkspur Inc purchased the bonds from Blue Spruce Corp. record the journal entries required on July 1 for Larkspur Inc., and Blue Spruce Corp. (Credit account titles are automatically indented when the amount is entered. Do not Indent moralno entry is required, select "No Entry for the account titles and enter for the amounts.) Data You will lose mark Item Purchase Price of the Bond Face Value or Maturity Value Bond or Contractual Rate of interest Market Rate of interest Fair Value or Trading at year end wa Prepare the journal entry the investing company (le, the investor purchaser) would record on the date of purchase.[2 marks) Date Account une Debit Credit 27 28 22 D Prepare the bond amortization schedule using the effective interest rate method for the investing company (Le, the investor purchaser) for the first four interest per Contractual Cash Effective interest receipts Revenue Amortization of premium of discount 34 Date Balance 36 37 10 13 40 41 22C Perpare the journal entries for the investing company fe. the investory purchaser) to record 1) the accrual of interest at year end, and 2) the receipt of interest on January 1, 2022