8. (10 points) Lindsey Sisters Company acquired $720,000 of 3% bonds, dated July 1, on July 1, 2021, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 4% for bonds of similar risk and maturity. Lindsey Sisters paid $600,000 for the investment in bonds and will receive interest semiannually on June 30 and December 31. Prepare the journal entries (a) to record Lindsey Sisters' investment in the bonds on July 1, 2021, and (b) to record interest on December 31, 2021, at the effective (market) rate. Debit Account Credit Account Debit Amount Credit Amount Date 7/1/2021 12/31/2021