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Ababuo & Co. owns vast amounts of corporate bonds. Suppose Ababuo & Co. buys $900,000 of FelixCo bonds at face value on January 2,

Ababuo & Co. owns vast amounts of corporate bonds. Suppose Ababuo & Co. buys $900,000 of FelixCo bonds at face value on January 2, 2025. The FelixCo bonds pay interest at the annual rate of 5% on June 30 and December 31 and mature on Decem- ber 31, 2033. Ababuo & Co. intends to hold the investment until maturity. Requirements 1. Journalize any required 2025 entries for the bond investment. 2. How much cash interest will Ababuo & Co. receive each year from FelixCo? 3. How much interest revenue will Ababuo & Co. report during 2025 on this bond investment?

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