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On July $1,2024,$ Bramble Corporation, a private company, purchased $$249,600$ of six$-$year, $5\%$

Star Corporation bonds for $$262,800.$ The bonds pay interest each June $30.$ The bonds were

purchased to earn interest and the market interest rate at the time of purchase was $4\%.$ The

company uses the effective$-$interest method to amortize any premium or discount on debt

security investments.

Prepare the required journal entries on July $1$ and December $31,2024,$ and June $30,2025.($Record

entries in the order displayed in the problem statement. 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 and

Explanation

Debit

Credit

$2024$On July $1,2024,$ Bramble Corporation, a private company, purchased $$249,600$ of six$-$year, $5\%$

Star Corporation bonds for $$262,800.$ The bonds pay interest each June $30.$ The bonds were

purchased to earn interest and the market interest rate at the time of purchase was $4\%.$ The

company uses the effective$-$interest method to amortize any premium or discount on debt

security investments.

Prepare the required journal entries on July $1$ and December $31,2024,$ and June $30,2025.$

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