The following transactions relate to bond investments of Livermore Laboratories. The companys fiscal year ends on December $31.$ Livermore uses the straight$-$line method to determine interest.

$2024$

July $1$ Purchased $$18$ million of Bracecourt Corporation $12\%$ debentures, due in $20$ years $($June $30,2044),$ for $$17\mathrm{.}4$ million. Interest is payable on January $1$ and July $1$ of each year.

October $1$ Purchased $$32$ million of $15\%$ Framm Pharmaceuticals debentures, due May $31,2034,$ for $$33,392,000$ plus accrued interest. Interest is payable on June $1$ and December $1$ of each year.

December $1$ Received interest on the Framm bonds.

December $31$ Accrued interest.

$2025$

January $1$ Received interest on the Bracecourt bonds.

June $1$ Received interest on the Framm bonds.

July $1$ Received interest on the Bracecourt bonds.

September $1$ Sold $$16\mathrm{.}0$ million of the Framm bonds at $102$ plus accrued interest.

December $1$ Received interest on the remaining Framm bonds.

December $31$ Accrued interest.

$2026$

January $1$ Received interest on the Bracecourt bonds.

February $28$ Sold the remainder of the Framm bonds at $103$ plus accrued interest.

December $31$ Accrued interest.

Required:

Prepare the appropriate journal entries for these long$-$term bond investments.

By how much will Livermore Labs earnings inc Prepare the appropriate journal entries for these long$-$term bond investments.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Do not round your intermediate calculations. Enter your answers in whole dollars.

No Date General Journal Debit Credit

$1$ July $01,2024$ Investment in bonds $18,000,000$

Discount on investment in bonds $600,000$

Cash $17,400,000$

$2$ October $01,2024$ Investment in bonds $32,000,000$

Premium on investment in bonds $1,392,000$

Interest receivable $1,600,000$

Cash $34,992,000$

$3$ December $01,2024$ Cash $2,400,000$

Premium on investment in bonds $24,000$

Interest receivable $1,600,000$

Interest revenue $776,000$

$4$ December $31,2024$ Interest receivable $1,080,000$

Discount on investment in bonds $15,000$

Interest revenue $1,095,000$

$5$ December $31,2024$ Interest receivable $400,000$

Premium on investment in bonds $12,000$

Interest revenue $412,000$

$6$ January $01,2025$ Cash $1,080,000$

Interest receivable $1,080,000$

$7$ June $01,2025$ Cash $2,400,000$

Premium on investment in bonds $60,000$

Interest receivable $600,000$

Interest revenue $2,280,000$

$8$ July $01,2025$ Cash $1,080,000$

Discount on investment in bonds $15,000$

Interest revenue $1,095,000$

$9$ September $01,2025$ Interest receivable $600,000$

Premium on investment in bonds $18,000$

Interest revenue $42,000$

$10$ September $01,2025$ Cash $16,920,000$

Loss on sale of investments $310,000$

Investment in bonds $16,000,000$

Premium on investment in bonds $630,000$

Interest receivable $600,000$

$11$ December $01,2025$ Cash $1,200,000$

Premium on investment in bonds $36,000$

Interest revenue $1,164,000$

$12$ December $31,2025$ Interest receivable $1,080,000$

Discount on investment in bonds $15,000$

Interest revenue $1,095,000$

$13$ December $31,2025$ Interest revenue $200,000$

Premium on investment in bonds $6,000$

Interest revenue $194,000$

$14$ January $01,2026$ Cash $1,200,000$

Interest receivable $1,200,000$

$15$ February $28,2026$ Interest receivable $400,000$

Premium on investment in bonds $12,000$

Interest revenue $388,000$

$16$ February $28,2026$ Cash $17,080,000$

Loss on sale of investments $114,000$

Investment in bonds $16,000,000$

Premium on investment in bonds $594,000$

Interest receivable $600,000$

$17$ December $31,2026$ Interest receivable $1,080,000$

Discount on investment in bonds $15,000$

Interest revenue $1,095,000$