Exercise $2\mathrm{.}1$ A$.$ On January $1,2025,$ Falcon Electro acquires $\backslash (\backslash$$ $400,000\backslash )$ of $\backslash (8\backslash \%\backslash )$ bonds at a price of $\backslash (\backslash$$ $442,376\backslash ).$ The interest is payable each December $31$ and the bonds mature December $31,2045.$ The investment will provide Falcon Electro a $7\backslash \%$ yield. The bonds are classified as held$-$to$-$maturity. Instructions $1.$ Prepare the entry to record the purchase of the bonds on January $\backslash (1,2025\backslash ).2.$ Prepare a $3-$year schedule of interest revenue and bond discount amortization, applying the effective interest method. $3.$ Prepare the journal entry for the interest receipt on December $31,2025$ and December $31,2026,$ and the premium amortization under the effective$-$interest method.