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Please Anwser ASAP and I will give a thumbs up!!! I have shown all available accounts for the journal entry questions! On 1 January 2005,

Please Anwser ASAP and I will give a thumbs up!!!
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On 1 January 2005, Franco Ltd, purchased $440,000 of Gentron Company 7.00% bonds. The bonds pay semi-annual Interest each 30 June and 31 December. The market interest rate was 8% on the date of purchase. The bonds mature on 31 December 2010 (PV of $1. PVA of $1. and PVAD of $1.) (Use appropriate factor(s) from the tables provided.) Required: 1. Calculate the price paid by Franco Ltd. (Round time value factor to 5 decimal places. Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Price paid 2. Assume that the bond is classified as an AC investment Construct a table that shows interest revenue reported by Franco, and the carrying value of the investment, for four interest periods. Use the effective interest method. (Round your answers to the nearest whole dollar amount.) Period Cash Payment Interest Revenue Amortization Gond Carrying Value 0 1 2 3 4 3. Prepare the entries for the first four interest periods based on your calculations in requirement 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) View transaction ist View transaction list Journal entry worksheet 2 3 4 1 > Record the first period revenue. Note: Enter debits before credits General Journal Debit Credit Date 30 Jun 2005 View transaction list Journal entry worksheet 1 B 3 4 Record the second period revenue. Note: Enter debits before credits. Date General Journal Debit Credit 31 Dec 2005 View transaction list Journal entry worksheet Record the Interest revenue Investment in debt securities: Gentron bonds Investment revenue: Holding gain: Gentron bonds Investment revenue: Holding loss: Gentron bonds Purchases Note: Enter det Credit Date 31 Dec 2006 View transaction list Journal entry worksheet 1 Dec 2006 Record entry Clear entry View general jouri Journal entry worksheet Record entry Clear entry View gene 5. Show how the bond would be presented on the statement of financial position at the end of 2005 and 2006, if it were (a) AC and (b) FVTPL. (Round your answers to the nearest whole dollar amount.) 2006 2005 (a) AC investment Investment in Gentron bond (b) FVTPL investment Investment in Gentron bond

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