Question 4: Amortized Cost model for bond investment On January 1, 2022, Sevenon Ltd. paid $457,876.36 for 4% bonds with a maturity value of $500,000. The purchase price was based on a market interest rate of 6%. The bonds were issued by Spanky Inc. on January 1, 2022, and mature on January 1, 2027, with interest receivable on December 31 of each year. Sevenon classifies the bonds as a non-strategic debt investment held to earn interest income. Instructions Prepare the following for Sevenon Ltd. (record all journal entry amounts to the nearest cent): 1 Prepare the journal entry to record the bond purchase. 2 Prepare a bond amortization schedule. 3 Prepare the journal entry to record the receipt of interest on December 31, 2023. 4 Prepare the journal entry to record the disposal of the bond at maturity.