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please answer asap its due very soon!! thanks On January 1,2025, Concord Company purchased 12% bonds having a maturity value of $312,000 for $335,654.22. The
please answer asap its due very soon!! thanks On January 1,2025, Concord Company purchased 12% bonds having a maturity value of $312,000 for $335,654.22. The bonds provide the bondholders with a 10% yield. They are dated January 1,2025, and mature January 1,2030, with interest received on January 1 of each year. Concord Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified as available-for-sale category. The fair value of the bonds at December 31 of each year-end is as follows. (a) Prepare the journal entry at the date of the bond purchase. (b) Prepare the journal entries to record the interest revenue and recognition of fair value for 2025 , (c) Prepare the fournal entry to record the recosnition of fair value for 2020. (List all debit entries before credit entries. Credil occount titles are outomatically indented when amount is entered. Do not indent inanualy if no entry is required, select 'No Entry' for the account titles and enter ofor the amounts Round answers to 2 decimal places, eg. 1225.25.) no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimol places, e.3. 1225.25
please answer asap its due very soon!! thanks
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