Please check my work (color in pink). Correct and explain it thoroughly if needed.

(8) ri - discount O rei premium 14. Croque Madame and Daughters are in the business of selling Croque Madame Sandwiches. On June 312020, the firm rented out a warehouse to one of its customers. The customer paid for 1 year's worth of rent in advance using year bond with principal of $30,000 at 10% interest paid semi-annually. The markerte for similar bonds is 12%. Assume an arm's length transaction in an efficient market. (Reminder if the value of the liability is unknown, we utilize the known asset being exchanged to determine its value.) 5 2703 (500x7.56009 Provide the journal entries for the transaction on June 19, 2020. (18 points) 30,000 -.55839 Principal: $30,00 2 = 15.00 P V of principal = 15000x0.56745 i = 1o%2 = 54 588007 28511- 16,757.7% r= 12% &r=12+2=6% ->PV of annuity = 750 x 3.60478 n=5 xn=5x2 =10 = 20 44040.135 Principal = $30,000 6131 >>pr of bond = 8511 + 2703 214214 30,000 16,751.7+ 14,040.135 Bond receivable = 27,792 Discount v 3786/2,208 Servia revx Rent rev. 14214227,792 Assuming that Croque Madame and Daughters prepare financial statements once a year on Dec 31", provide the relevant transactional and adjusting entries on Dec 31". 2020. Pay particular attention to the date of the original transaction, and the dates when interest is paid. Hint: There are two sets of entries, one for a transaction and one adjusting entry. (points) IS OGO Transactional journal entry (for interest payment received) (10 points) 11 214 x 0.OS - 560. Bond recortable 560 Discount ISO Interest rev. 750 Interest rec.. Interest rev: Adjusting entry (6 points) 1500 (30,000+ 5% + 12 1500 ums Interest exp. Interest payable 750 (30,000*5% * 750