On September 1, 2008, Wilkerson Corporation purchases \(\$ 70,000\) of \(8 \%\) bonds of Maxtech Corporation, due in \(9 \frac{1}{4}\) years. The bonds were purchased at a price of \(\$ 56,000\) plus interest of \(\$ 1,400(\$ 70,000 \times 8 \% \times 3 / 12)\) accrued from June 1,2008 , the date of the last semiannual interest payment.

(a) Journalize the purchase of the bonds plus accrued interest.

(b) Journalize the entry to record the amortization of the discount on December 31.

objs. 2, 3