QS C$-6($Algo$)$ Accounting for debt investments classified as held$-$to$-$maturity LO P$2$

Prepare Garzon Company's journal entries to record the following transactions for the current year.

January $1$ Purchases $6\%$ bonds $($as a held$-$to$-$maturity investment$)$ issued by PBS at a cost of $$48,800,$ which is the par value.

June $30$ Receives first semiannual payment of interest from PBS bonds.

December $31$ Receives a check from PBS in payment of principal $($$$48,800)$ and the second semiannual payment of interest.

Journal entry worksheet

$1$

$2$

$3$

Purchases $6\%$ bonds $($as a held$-$to$-$maturity investment$)$ issued by PBS at a cost of $$48,800,$ which is the par value.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,,,],[,,,],[,,,],[,,,]]$