Question 1 of 5 -//1 View Policies Current Attempt in Progress

On July 1,2023, Riverbed Aggregates Ltd. purchased 6% bonds with a maturity value of $125,000 for $129,482. The bonds provide the bondholders with a 5% yield. The bonds mature four years later, on July 1,2027, with interest receivable June 30 and Decernber 31 of each year. Riverbed uses the effective interest method to allocate unamortized discount or premium. The bonds are accounted for using the FV-OCI model with recycling. Riverbed has a calendar year end. The fair value of the bonds at December 31, 2023 and 2024, was $129,173 and $127,762, respectively. Assume fair value adjustments are recorded at year end only. Immediately after collecting interest on December 31,2024, the bonds were sold for $127,762. Prepare the journal entry at the date of the bonds purchase.

Now, prepare a bond amortization schedule to December 31,2024 .( round answers to 0 decimal places)

Dates are : july1,2023

Dec 31,2023

June 30,2023

Dec 31,2023

What we need is : cash received, interest income, premium amortized and amortized cost of bond. We need amount of those for each of the dates given above.