Swifty Company, a public company following IFRS purchased $70,000, 4% five-year bonds of IAA Corporation on January 1, 2021. Interest is payable on July 1 and January 1. The bond is selling at a $73,228 resulting in a bond premium of $3,228. The effective interest rate is 3%. At the year-end of December 31, the fair value of the investment was $72,500.

Prepare the appropriate journal entries for the year ending December 31, 2021 assuming that Swifty Company uses FV-OCI.

i) Purchase of land

ii) Receipt of interest

iii) Accrued interest and amortization

iv) Reimbursement to fair value at year end