Part 2: Prepare the entries required to record any accrued interest, amortization of any premium or discount, and recognition of fair values on December 31, 2020.

Part 3: During 2021, the following transactions took place:

1. The note was sold on February 1, 2021, for $59,600.
2. The Government of Canada bonds were sold on July 1, 2021, for $109,200 plus accrued interest. Prepare entries to record these transactions.

Part 4: Using the information from parts (a) and (b), assume that the note was not sold on February 1, 2021, but instead was held until it matured. Provide the proper entry to record the disposal of the note at maturity.

Question 5 of 5 -/4 View Policies Current Attempt in Progress Flint Corp.prepares financial statements annually on December 31, its fiscal year end. The company follows IFRS. At December 31, 2020, the company has the account Investments in its general ledger, containing the following debits for investment purchases, and no credits: Feb. 1 , 2020 Chiang Corp.common shares, no par value, 200 shares $ 36,200 April 1 100.000 July 1 Government of Canada bonds. 6%, due April 1, 2030, interest payable April 1 and October 1, 100 bonds of $1,000 par value each Monet Corp. 12% bonds, par $ 46,000.dated March 1, 2020, purchased at 106 plus accrued interest to yield 11%, interest payable annually on March 1, due on March 1, 2037 $56,000, six-month non-interest-bearing note that matures on May 1, 2021, bought to yield 10% 50.600 Nov. 1 53.333 The fair values of the individual securities on December 31, 2020, were: Chiang Corp.common shares (active stock market price) $ 32,800 Government of Canada bonds 104,600 Monet Corp. bonds 54,000 Note receivable 56,100 Part 1 Question 5 of 5 -/4 Part 1 Prepare the entries necessary to correct any errors in the Investments account, assuming that the Government of Canada bonds were being managed for their yield to maturity, and that the Monet bonds were acquired with the hope of gaining from falling interest rates. The Chiang Corp.shares were acquired with the hope of ensuring the supply of raw materials from this company in the future. Flint tracks interest income for all debt investments. (Round answers to O decimal places, e.g. 5,275. 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 for the amounts.) Account Titles and Explanation Debit Credit Interest Receivable FV-OCI Investments Bond Investment at Amortized Cost FV-NI Investments Note Investment at Amortized Cost Investments Question 5 of 5 -/4 View Policies Current Attempt in Progress Flint Corp.prepares financial statements annually on December 31, its fiscal year end. The company follows IFRS. At December 31, 2020, the company has the account Investments in its general ledger, containing the following debits for investment purchases, and no credits: Feb. 1 , 2020 Chiang Corp.common shares, no par value, 200 shares $ 36,200 April 1 100.000 July 1 Government of Canada bonds. 6%, due April 1, 2030, interest payable April 1 and October 1, 100 bonds of $1,000 par value each Monet Corp. 12% bonds, par $ 46,000.dated March 1, 2020, purchased at 106 plus accrued interest to yield 11%, interest payable annually on March 1, due on March 1, 2037 $56,000, six-month non-interest-bearing note that matures on May 1, 2021, bought to yield 10% 50.600 Nov. 1 53.333 The fair values of the individual securities on December 31, 2020, were: Chiang Corp.common shares (active stock market price) $ 32,800 Government of Canada bonds 104,600 Monet Corp. bonds 54,000 Note receivable 56,100 Part 1 Question 5 of 5 -/4 Part 1 Prepare the entries necessary to correct any errors in the Investments account, assuming that the Government of Canada bonds were being managed for their yield to maturity, and that the Monet bonds were acquired with the hope of gaining from falling interest rates. The Chiang Corp.shares were acquired with the hope of ensuring the supply of raw materials from this company in the future. Flint tracks interest income for all debt investments. (Round answers to O decimal places, e.g. 5,275. 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 for the amounts.) Account Titles and Explanation Debit Credit Interest Receivable FV-OCI Investments Bond Investment at Amortized Cost FV-NI Investments Note Investment at Amortized Cost Investments