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Instructions X On July 1, 2019, Wolfpack Corporation purchased securities which it intends to buy and sell frequently. These securities consisted of Todd Corporation 10%, 5-year bonds with a face value of $21,000 which were purchased for $19,500. Required: Prepare the July 1 journal entry to record the purchase of these trading securities.X Chart of Accounts CHART OF ACCOUNTS Wolfpack Corporation General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 113 Investment in Trading Securities 431 Interest Income 121 Accounts Receivable 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 181 Equipment 511 Insurance Expense 189 Accumulated Depreciation 512 Utilities Expense 191 Investment in Held-to-Maturity Debt Securities 521 Salaries Expense 532 Bad Debt Expense LIABILITIES 540 Interest Expense 211 Accounts Payable 541 Depreciation ExpenseX Chart of Accounts 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 181 Equipment 511 Insurance Expense 189 Accumulated Depreciation 512 Utilities Expense 191 Investment in Held-to-Maturity Debt Securities 521 Salaries Expense 532 Bad Debt Expense LIABILITIES 540 Interest Expense 211 Accounts Payable 541 Depreciation Expense 231 Salaries Payable 559 Miscellaneous Expenses 250 Unearned Revenue 910 Income Tax Expense 261 Income Taxes Payable EQUITY 311 Common Stock 331 Retained EarningsGeneral Journal X Prepare the July 1 journal entry to record the purchase of these trading securities. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1 7