-78 III Current Attempt in Progress On January 1, 2021, Orioleltd, a public company, purchased $618,000 of 5-year, 9% bonds at par from Sheffield Corporation Interest is received semi-annually on July 1 and January 1. Oriole purchased the bonds to earn interest. At December 31, 2021, the bonds were trading at 104 Prepare the journal entry to record the purchase of the bonds on January 1. (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 for the amounts) Date Account Titles and Explanation Debit Credit Jan. 1 Investments at Amortired Cost 618000 618000 Torecord purchase of bond investment.) -/8 = Question 2 of 7 Prepare the journal entry to record the receipt of interest on July 1. (Credit account ttles 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 for the amounts) Date Account Titles and Explanation Debit Credit July 1 (Collection of interest revenue.) e Textbook and Media Question 2 of 7 -/8 Prepare any adjusting entries required at December 31. (Credit account cities 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 for the amounts.) Date Account Titles and Explanation Debil Credit Dec. 31 To accrue interest revenue.) Dec. 31 (To record fait value adjustment.) e Textbook and Media