Question: need help Current Attempt in Progress On January 1, 2019, Ayayai and Lois Company purchased 12% bonds having a maturity value of $348.000 for $374,383.87.

need help
need help Current Attempt in Progress On January 1, 2019, Ayayai and
Lois Company purchased 12% bonds having a maturity value of $348.000 for
$374,383.87. The bonds provide the bondholders with a 10% yield. They are

Current Attempt in Progress On January 1, 2019, Ayayai and Lois Company purchased 12% bonds having a maturity value of $348.000 for $374,383.87. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2019, and mature on January 1, 2024, with interest receivable on December 31 of each year. Ayayai and Lois Company uses the effective interest method to allocate unamortized discount or premium The bonds are classified as amortized cost investments. Prepare the journal entry at the date of the bond purchase. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to 2 decimal places, c.8. 52.75.) Date Account Titles and Explanation Debit Credit Jan. 1 Prepare the journal entry to record the interest received and the amortization for 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter o for the amounts. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 Prepare the journal entry to record the interest received and the amortization for 2020. (Credit account titles are stiral indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for ZI Prepare the journal entry to record the interest received and the amortization for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit Dec. 31, 2020

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