Bond (Held-to-Maturity)Investment Journalize the entries to record the following selected bond investment transactions for Marr Products: If an amount box does not require an entry, leave it blank. a. Purchased for cash $120,000 of Hotline Inc. 7% bonds at 100 plus accrued interest of $1,400. Investments-Hotline Inc. Bonds 120,000 0 Interest Receivable 1,400 0 Cash 0 121,400 Feedback Check My Work 0 a. Record the investment at face value. Interest that is receivable on the date of purchase must be recorded as well. b. Received first semiannual interest payment. Cash 4,200 0 Interest Receivable 0 1,400 Interest Revenue 0 2,800 :. Sold $80,000 of the bonds at 103 plus accrued interest of $910. Cash 0 Interest Revenue Gain on Sale of Investments 0 Investments-Hotline Inc. Bonds 80,000 Feedback Check My Work c. Calculate the proceeds: First compute the % x face amount of bonds sold. Next, adjust the amount for any accrued interest and commission. To complete the entry, determine any gain or loss on the transaction. 1. Received face value of remaining bonds at their maturity. Cash 0 Investments-Hotline Inc. Bonds 0