The following amortization schedule is for Swifty Ltd.s investment in Spangler Corp.s $103,000, five-year bonds with a 11% interest rate and a 9% yield, which were purchased on December 31, 2019, for $111,013:

Cash Received Interest Income Bond Premium Amortized Amortized Cost of Bonds Dec. 31, 2019 $111,013 Dec. 31, 2020 $11,330 $9,991 $1,339 109,674 Dec. 31, 2021 11,330 9,871 1,459 108,215 Dec. 31, 2022 11,330 9,739 1,591 106,624 Dec. 31, 2023 11,330 9,596 1,734 104,890 Dec. 31, 2024 11,330 9,440 1,890 103,000

The following schedule presents a comparison of the amortized cost and fair value of the bonds at year end:

Dec. 31, 2020 Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Dec. 31, 2024 Amortized cost $109,674 $108,215 $106,624 $104,890 $103,000 Fair value $108,881 $111,068 $108,105 $105,785 $103,000

Assume that Swifty Ltd. follows IFRS and reports interest income separately from other investment income.

Prepare the journal entry to record the purchase of these bonds on December 31, 2019, assuming the bonds are accounted for using the amortized cost model. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date Account Titles and Explanation Debit Credit Dec. 31

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Prepare the journal entry related to the bonds accounted for using the amortized cost model for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date Account Titles and Explanation Debit Credit Dec. 31

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Prepare the journal entry related to the bonds accounted for using the amortized cost model for 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date Account Titles and Explanation Debit Credit Dec. 31

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Prepare the journal entry to record the purchase of these bonds, assuming they are held for trading purposes and accounted for using the FV-NI model. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date Account Titles and Explanation Debit Credit Dec. 31

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Prepare the journal entry(ies) related to the trading bonds accounted for using the FV-NI model for 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date Account Titles and Explanation Debit Credit Dec. 31

(To record collection of interest) Dec. 31

(To record fair value adjustment)

SHOW LIST OF ACCOUNTS

Prepare the journal entry(ies) related to the bonds accounted for using the FV-NI model for 2023. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date Account Titles and Explanation Debit Credit Dec. 31

(To record collection of interest) Dec. 31

(To record fair value adjustment)