Question 5 (10 points) Problem E (10 points) Prepare journal entries for the Glennen Company's following transactions pertaining to debt securities held as a temporary investment: January 1 Purchased 60 8%, $1000, Payne Company bonds for $60,000 cash plus brokerage fees of $800. Interest is payable semiannually on July 1 and January 1. Type Debit (hit return key) Type Credit, by spacing four to five spaces for each transaction in the problem. Leave a blank line between your transactions. July 1 Received semiannual interest on Payne Company bonds. Sold 20 PA Sold 20 Payne Company bonds for $25,800 less $500 brokerage July 1 fees. December 31 Prepare the adjusting entry for the accrual of interest