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Provide correct journal entries for these The following information relates to the debt investments of Concord Inc. during a recent year: 1 . On February

Provide correct journal entries for these
The following information relates to the debt investments of Concord Inc. during a recent year:

1. On February 1, the company purchased Gibbons Corp. 10% bonds with a face value of $372,000 at 100 plus accrued interest. Interest is payable on April 1 and October 1.
2. On April 1, semi-annual interest was received on the Gibbons bonds.
3. On June 15, Sampson Inc. 9% bonds were purchased. The $248,000 par-value bonds were purchased at 100 plus accrued interest. Interest dates are June 1 and December 1.
4. On August 31, Gibbons bonds with a par value of $74,400 purchased on February 1 were sold at 99 plus accrued interest.
5. On October 1, semi-annual interest was received on the remaining Gibbons bonds.
6. On December 1, semi-annual interest was received on the Sampson bonds.
7. On December 31, the fair values of the bonds purchased on February 1 and June 15 were 98.5 and 101, respectively.

Assume the investments are accounted for under the recognition and measurement requirements of IFRS 9 Financial Instruments. The company does not record interest income separately from other investment income or loss
when investments are accounted for at FV-NI. 
 

Prepare all journal entries that you consider necessary, including December 31 year-end entries, assuming these investments are accounted for at FV-NI.(Credit account titles are automatically indented when the amount is
entered. Do not indent manually. If no entry is required, select \"No Entry\" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement. List all debit entries before credit
entries.) 
 











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