On January $1,2024,$ Carla Vista Ltd$.,$ a public company, purchased $$642,000$ of $5-$year, $7\%$ bonds at par from Flint Corporation. Interest is received semi$-$annually on July $1$ and January $1.$ Carla Vista purchased the bonds to earn interest. At December $31,2024,$ the bonds were trading at $103.($a$)$ Your answer is correct. Prepare the journal entry to record the purchase of the bonds on January $1.($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 $0$ for the amounts. List debit entry before credit entry.$)$ Date Account Titles Debit Credit Jan. $1$ Investments at Amortized Cost $642,000$ Cash $642,000$ Prepare the journal entry to record the receipt of interest on July $1.($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 $0$ for the amounts. List debit entry before credit entry.$)$ Date Account Titles Debit Credit July $1$ Cash $22,470$ Interest Revenue $22,470$ Your answer is partially correct. Prepare any adjusting entries required at December $31.($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 $0$ for the amounts. List all debit entries before credit entries.$)$ Date Account Titles Debit Credit Dec. $31$ Interest Receivable Interest Revenue $($To accrue interest revenue.$)$ Dec. $31$ Interest Revenue $($To record fair value adjustment.$)$ Prepare any adjusting entries required at December $31.($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 $0$ for the amounts. List all debit entries before credit entries.$)$ Date Account Titles Debit Credit Dec. $31$ Interest Receivable $($To accrue interest revenue.$)$ Dec. $31$ Investments at Amortized Cost Interest Revenue $($To record fair value adjustment.$)$