7. On January 1, 2018, the Redburgh Corporation decides to invest in Small Town bonds. The bonds mature on December 31, 2024, and pay interest of 5 % on June 30 and December 31. The market rate of interest was 5 % on January 1, 2018, so the $60,000 maturity-value bonds sold for face value. Redburgh Corporation intends to hold the bonds until maturity. Journalize the transactions related to Redburgh Corporation's investment in Small Town bonds during 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing Redburgh Corporation's investment in Small Town bonds on January 1, 2018. Date counts and Explanation Debit Credit Jan. 1, 2018