E$9\mathrm{.}8($LO $3)($Investment in Debt Instruments Held for Trading Purposes, Accounted for Using FV$-$NI$)$ An icon reads, Finance. NB Corp. purchased a $$100,000$ face value bond of Myers Corp. on August $31,2022,$ for $$104,490$ plus accrued interest. The yield on the bond is $8\mathrm{.}03\%.$ The bond pays interest annually each November $1$ at a rate of $9\%.$ On November $1,2022,$ NB received the annual interest. On December $31,2022,$ NB$$s year end, the fair value for these bonds was $103\mathrm{.}2.$ NB sold the bond on January $15,2023,$ for $$102,900$ plus accrued interest. Assume NB follows IFRS.

Instructions

Prepare the journal entries to record the purchase of the bond, the receipt of interest, any adjustments required at year end, and the subsequent sale of the bond. Do not round intermediate calculations but round entry amounts to the nearest dollar.