Week 8\&9: CH9-Assignment 6 BUS 320-Intermediate Accounting: Assets Chapter 9-Investments QUESTION 1 P9.3 The following amortization schedule is for Flagg Ltd.'s investment in Spangler Corp.'s $100,000, five-year bonds with a 7% interest rate and a 5% yield, which were purchased on December 31,2022 , for $108,660 : The following schedule presents a comparison of the amortized cost and fair value of the bonds at year end. Rssunc mal riagg lunuws ir no. Instructions a) Prepare the journal entry to record the purchase of these bonds on December 31, 2022, assuming the bonds are accounted for using the amortized cost model. b) Prepare the journal entry(ies) related to the bonds accounted for using the amortized cost model for 2023. c) Prepare the journal entry(ies) related to the bonds accounted for using the amortized cost model for 2025. d) Prepare the journal entry(ies) to record the purchase of these bonds, assuming they are held for trading purposes and accounted for using the FV-NI model. e) Prepare the journal entry(ies) related to the bonds accounted for using the FV-NI model for 2024. f) Prepare the journal entry(ies) related to the bonds accounted for using the FV-NI model for 2026. g) An icon reads, Digging Deeper. As a member of Flagg's management, suggest a reason why you might have a different policy related to the reporting of interest income separately versus combined with other investment income