11 of 15 View Policies Current Attempt in Progress < -/14 On July 1, 2021, Marin Inc., a public company, purchased $590,000 of Bramble Corp. 10-year, 3% bonds for $541,763 to earn interest. The bonds had a market interest rate of 4%. The bonds pay interest semi-annually on January 1 and July 1. Marin Inc. has a December 31 year end. At December 31, 2021, the bonds are trading at 96. Assuming Marin Inc. purchased the bonds from Bramble Corp., record the journal entries required on July 1 for Marin Inc., and Bramble Corp. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Marin (investor) Date Account Titles and Explanation July 1 Debit Credit (To record purchase of investment) ENG Investments Question 11 of 15 < > (To record purchase of investment.) Bramble (investee) Date Account Titles and Explanation Debit Credit July 1 (To record issuance of bonds payable.) -/14 Record any adjusting journal entries that are required at December 31 for Marin Inc. and Bramble Corp. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Round answers to O decimal places, eg. 5,275) Question 11 of 15 < > -/14 E Record any adjusting journal entries that are required at December 31 for Marin Inc, and Bramble Corp. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, eg. 5,275) Marin (investor) Date Account Titles and Explanation Dec. 31 (To accrue interest revenue.) Bramble (investee) Debit Credit v 14 Date Account Titles and Explanation Debit Credit Question 11 of 15 < > (To accrue interest revenue.) Bramble (investee) Date Account Titles and Explanation Dec. 31 (To accrue interest expense.) 3 Debit Credit -/141 E Record the receipt and payment of the first interest payment on January 1, 2022, for Marin loc, and Bramble Corp. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the ING ment-player/index.html/launchid-8fdbe496-dact 4769-304e-a6bbe64df1f1/question/10 Ch16-Investments Question 11 of 15 < > -/14 Record the receipt and payment of the first interest payment on January 1, 2022, for Marin Inc., and Bramble Corp. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts) Marin (investor) Date Account Titles and Explanation Debit Credit Jan. 1 M (Collection of interest receivable.) Bramble (investee) Date Account Titles and Explanation Jan. 1 Debit Credit COOCIOorwiny.e6/w1002/assessment-player/index.html?launchid Bidbe496-dac4-4769-804e-a6bbe64d1111/question/10 Ch16-Investments Question 11 of 15 3 > Date Account Titles and Explanation Debit Credit Jan. 1 Y (Collection of interest receivable.) Bramble (investee) Date Account Titles and Explanation Jan. 1 (To record payment of interest) v Debit Credit -/14 E