Question: 1 9 points Skipped Universal Foods issued 10% bonds, dated January 1, with a face amount of $150 million on January 1, 2021 to

1 9 points Skipped Universal Foods issued 10% bonds, dated January 1,with a face amount of $150 million on January 1, 2021 toWang Communications The bonds mature on December 31, 2035 (15 years). Themarket rate of interest for similar issues was 12% Interest is paidsemiannually on June 30 and December 31. Universal uses the straight-line method.(EV of $1, PV of St. EVA of $1. PVA of $1EVAD.of$1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)Required: 1. to 3. Prepare the journal entries to record the purchaseof the bonds by Wang Communications on January 1, 2021, interest revenue

1 9 points Skipped Universal Foods issued 10% bonds, dated January 1, with a face amount of $150 million on January 1, 2021 to Wang Communications The bonds mature on December 31, 2035 (15 years). The market rate of interest for similar issues was 12% Interest is paid semiannually on June 30 and December 31. Universal uses the straight-line method. (EV of $1, PV of St. EVA of $1. PVA of $1EVAD.of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. to 3. Prepare the journal entries to record the purchase of the bonds by Wang Communications on January 1, 2021, interest revenue on June 30, 2021 and interest revenue on December 31, 2028. (Round final answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) eBook Hent Print View transaction list Journal entry worksheet < 1 2 3 Record the investment in bonds on January 1, 2021. References Note: Enter debits before credits Date January 01, 2021 General Journal Debit Credit Check my work

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