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Quick please thanks On t tanuary 202 Ludky Company purchased $6,300,000 offire Corp 48 bonds, classfied as a FVTPL. The bonids pay semieannual interest each
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On t tanuary 202 Ludky Company purchased $6,300,000 offire Corp 48 bonds, classfied as a FVTPL. The bonids pay semieannual interest each 30 June and 31 December. The market interest rate was 5 s on the date of purchase The bonds mature on 30 December 201 At the end of 202, the bonds had a far value of $5.900,000 (PV of S1 PVA atsi and PVAD olsi) (Use appropriate foctor(s) from the tables provided.) Required: 1 Calculate the price paid by Lucky (Round time value factor to 5 decimal places. Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) 2. Prepare the entries for the first year assuming that the investment is ciasgffed as FVTPL. (if no entry is required for a transectionvevent, select "No jeurnal entry required" in the first account field, Round your answers to the nearest whole dollar amount.] Journal entry worksheet Record the Investment revenue for first halt of the year. Notes Enter debits betore gredits. 2. Ptepare the entries for the first year assuming that the investment is classified as FVIFL. (If no entry is required for a transaction/event, select "No journal entry required" in the firtt account field. Round your answers to the nearest whole doliar emount.) Journal entry worksheet Notel Enter debits before uredits. 2. Frepate the entries for the first year assuming that the investment s alassified as FVTFL ar no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar amount.) Journal entry worksheet Record the holding gairMoss on imvestment, Noter Enter sebits before credits Step by Step Solution
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