Brief Exercise 116 On April 1, 2018, West Company purchased $396,000 of 6.25% bonds for $411,590 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2023. Prepare the journal entry on April 1, 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Apr. 1, 2018 Debt Investments 396,000 Interest Receivable 6187 Cash 402187 SHOW LIST OF ACCOUNTS LINK TO TEXT The bonds are sold on November 1, 2019 at 103 plus accrued interest. Amortization was recorded when interest was received by the straight-line method. Prepare all entries required to properly record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit Interest Expense Debt Investments (To record amortization) Cash Interest Revenue (To record interest) Cash Gain on Sale of Investments Debt Investments (To record the sale of the bonds)