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Brook Company Ltd. purchased 70 Meissner Company AG 9%, 10-year, 1,000 bonds on January 1, 2017, for 70,000. The bonds pay interest annually on January

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Brook Company Ltd. purchased 70 Meissner Company AG 9\%, 10-year, 1,000 bonds on January 1, 2017, for 70,000. The bonds pay interest annually on January 1 . On January 1, 2018, after receipt of interest, Brook Company sold 40 of the bonds for 40,300 Instructions Prepare the journal entries to record the transactions described above

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