On January $1,2025,$ Marin Company purchased $11\%$ bonds having a maturity value of $$320,000$ for $$344,893\mathrm{.}28.$ The bonds provide

the bondholders with a $9\%$ yield. They are dated January $1,2025,$ and mature January $1,2030,$ with interest received on January $1$ of

each year. Marin Company uses the effective$-$interest method to allocate unamortized discount or premium. The bonds are classified

as available$-$for$-$sale category. The fair value of the bonds at December $31$ of each year$-$end is as follows.

$2025$ $$342,6002028$ $$330,400$

$2026$ $$329,2002029$ $$320,000$

$2027$ $$328,300$

$($a$)$ Prepare the journal entry at the date of the bond purchase.

$($b$)$ Prepare the journal entries to record the interest revenue and recognition of fair value for $2025.$

$($c$)$ Prepare the journal entry to record the recognition of fair value for $2026.$