On July $1,2023,$ Ayayai Aggregates Ltd$.$ purchased $7\backslash \%$ bonds with a maturity value of $\backslash$$$50,000$ for $\backslash$$$51,755.$ The bonds provide the bondholders with a $6\backslash \%$ yield. The bonds mature four years later, on July $1,2027,$ with interest receivable June $30$ and December $31$ of each year. Ayayai uses the effective interest method to allocate unamortized discount or premium. The bonds are accounted for using the FV$-$OCI model with recycling. Ayayai has a calendar year end. The fair value of the bonds at December $31,2023$ and $2024,$ was $\backslash (\backslash$$ $51,780\backslash )$ and $\backslash (\backslash$$ $51,001\backslash ),$ respectively. Assume fair value adjustments are recorded at year end only. Immediately after collecting interest on December $31,2024,$ the bonds were sold for $\backslash$$$51,001.$

$($a$)$

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 $0$ for the amounts. List debit entry before credit entry. Round answers to $0$ decimal places, e$.$g$.5,275.)$

Date

Account Titles and Explanation

Debit

Credit

July $1,$

$2023$

Attempts: $0$ of $1$ used Prepare the entries and year$-$end entries from December $31,2023,$ through to the collection of interest on December $31,2024.($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. Round answers to $0$ decimal places, e$.$g$.5,275.)$

$($To record collection of interest$)$

$($To record fair value adjustment$)$

$($To record collection of interest$)$