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please answer ASAP On April 1, 2023, Chitauri Corp. purchased 5%,$100,000 face value bond for $92,038 plus accrued interest. The present value of the bond

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On April 1, 2023, Chitauri Corp. purchased 5%,$100,000 face value bond for $92,038 plus accrued interest. The present value of the bond at Jan 1,2023, was $91,683. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2028. Chitauri uses the amortized cost model to account for this investment and intends to hoid the bonds to maturity. Chitauri Corp. follows ASPE. Instructions a) Prepare the journal entry to record the purchase on April 1, 2023 and the journal entry to record the first coupon payment on July 1, 2023. (show your calcualtions where necessry). b) The bonds are sold on November 1, 2024 at 98.5 . Amortization was recorded when interest was received using the effective interest rate method. Prepare all entries required to properly record the sale. Round values to the nearest dollar, if necessary. (show your calcualtions where necessry)

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