Question: please help fill out missing boxes. On January 1, 2020, Ayayal Company purchased 12% bonds, having a maturity value of $310,000 for $333,502.59. The bonds

please help fill out missing boxes.
please help fill out missing boxes. On January 1, 2020, Ayayal Company
purchased 12% bonds, having a maturity value of $310,000 for $333,502.59. The

On January 1, 2020, Ayayal Company purchased 12% bonds, having a maturity value of $310,000 for $333,502.59. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2020, and mature January 1, 2025, with interest received on January 1 of each year. Ayayai 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. 2020 $331,200 2023 $320,200 2021 2024 $310,000 $319,100 $318,000 2022 (a) Prepare the journal entry at the date of the bond purchase. Prepare the journal entries to record the interest revenue and recognition of fair value for 2020, (b) (c) Prepare the journal entry to record the recognition of fair value for 2021. No. Date Account Titles and Explanation Debit Credit (a) Jan. 1, 2020 Bonds Payable 33350259 Cash 33: (b) () Unrealized Holding Gain or Loss -Income (To record interest received) (To record fair value adjustment) (c)

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