On July 1, 2023 Bridgeport Ltd. purchased 7% bonds having a maturity value of $75,000 for $72,475. The bonds provide the bondholders with a 8% yield. The bonds mature four years later, on July 1, 2027, with interest receivable June 30 and December 31 of each year. Bridgeport uses the effective interest method to allocate any unamortized discount or premium. The bonds are accounted for using the FV-OCI model with recycling. Bridgeport has a calendar year end and the fair value of the bonds at December 31, 2023 and 2024 was $73,100 and $73,320 respectively. Assume fair value adjustments are recorded at year end only. Immediately after collecting interest on December 31, 2024, the bonds were sold for $73,320. (a) Your answer is correct. Prepare the journal entry at the date of the bond purchase. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry. Round answers to O decimal places, eg. 5,275) Date July 1, 2023 Account Titles and Explanation FV-OCI Investments cash Debit Credit 72475 72475