Use this information to answer Questions #$4$ & $5$ & $6($related to Ch$.12)($Worth $4$ points each$)$:

On Jan $1,2022$ Northern Corporation acquired as a long term investment $$300$ million of $5\%$ bonds

dated Jan $1.$ Northern's intent is to hold the bonds until maturity. The market interest rate for bond

of similar risk and maturity was $6\%.$ Northern paid $$280$ million for the bonds. The company will

receive interest semi$-$annually on June $30$ and December $31.$ As a result of changing market

conditions, the fair value of the bonds on June $30,2022$ was $$290$ million.

Question #$4$

Prepare the journal entry to record Northern's investment in the bonds on Jan. $12022.$