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provide all journal entry Sandhill Compary a public company following IFRS, purchased $70,000,4% five-year bonds of iAA Corporation an January 1.202,4 loterest is payable on
provide all journal entry Sandhill Compary a public company following IFRS, purchased $70,000,4% five-year bonds of iAA Corporation an January 1.202,4 loterest is payable on July 1 and January 1. The bond is sellirs at a $73,228 resulting in a bond premium of $3,228. The effective interest rate is 398. At the yoar-end of December 31, the fair value of the imvestment was $71.700. Prepare the appropriate journal entries for the year ending December 31,2024 assuming that Sandhil Company uses FV-OCI aryd the effective interest method. (Credit account titles are automatically indented when amount is entered. Do not indent manuali, Record joumal entries in the ander presented in the problem. If no entry is required, select "No Entry" for the occount tities and enter ofor the amounts. List all debit entries before credit entries, Round answers to O decimal ploces, es. 5,125.) (Purchase the bond) Cas: (Receipt of interest) Jecember 31 Interest Receivible interest revenue irveistment in bond (Accrue interest and amortization (effective interest method) at year end) Unrealized Gain or Los5-OCI fair value adjustment (Remeasurement to fair value at year end)
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