Ace Properties Ltd, purchased a 5-year, 4.5% Scotia bond on May 1, 2014, and intends to hold it until it matures. The market rate at the time was 5.2 percent. Interest is paid annually each April 30. Information about the bond appears in the table below. Journalize the purchase and the April 30, 2015 entries. Assume there were no brokerage fees.

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Period Interest Discount Discount Annual Interest Interest Bond Period Revenue 4.50% Revenue Amort. Balance Carrying Value May 1, 2014 April 30, 2015 April 30, 2016 April 30, 2017 April 30, 2018 April 30, 2019 Total $ 45,000 45,000 45,000 45,000 45,000 $225,000 $30,100 969,900 975,335 981,052 987,067 993,394 0 1,000,000 $ 50,435$ 5435 24,665 50,717 51,015 51,327 51,606 5,717 18,948 6,015 12,933 6,327 6,606 6,606 5255,100 $30,100