Answer is not complete nor correct. Reqmnt 1 through 3

4 - Practice: Knowledge Check [due day 5] i Check my work mode : This shows what is correct or incorrect for the w 2 Exercise 14-4 (Static) Investor; effective interest [LO14-2] The Bradford Company issued 10% bonds, dated January 1, with a face amount of $80 million on January 1, 2021 to Saxton-Bose Corporation. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity, the market yield is 12% Interest is paid semiannually on June 30 and December 31. (FV of $1, PV of $1, EVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) Required: 1. to 3. Prepare the journal entries to record the purchase of the bonds by Saxton-Bose on January 1, 2021, interest revenue on 30, 2021 and interest revenue on December 31, 2021 (at the effective rate). (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) * Answer is not complete. No Date General Journal Debit Credit 1 January 01, 2021 Investment in bonds 80,000,000 Discount on investment in bonds O 55,055,622 x Cash 24,944,378 x 2 June 30, 2021 Cash 1,496,663 X Discount on investment in bonds 1,496,663 x 3 December 31, 207 Cash O 1586,462 0 Discount on investment in bonds 1,586,462 x