The Bradford Company Issued $12\%$ bonds, dated January $1,$ with a face amount of $$80$ million on January $1,2024$ to Saxton$-$Bose

Corporation.

The bonds mature on December $31,2033(10$ years$).$

For bonds of similar risk and maturity, the market yield is $14\%$

Interest Is paid semiannually on June $30$ and December $31.$

Required:

to $3.$ Prepare the Journal entries to record the purchase of the bonds by Saxton$-$Bose on January $1,2024,$ Interest revenue on June

$30,2024$ and interest revenue on December $31,2024($at the effective rate$).$

Note: Enter your answers In whole dollars. If no entry Is required for a transactlon$/$event$,$ select $"$No Journal entry required" In the

first account fleld. Use tables, Excel, or a financlal calculator. $($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Journal entry worksheet

Record the purchase of the bonds by Saxton$-$Bose.

Note: Enter debits before credits.