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Lance Brothers Enterprises acquired $575,000 of 3% bonds, dated July 1, on July 1, 2021, as a longterm 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. Lance Brothers paid $495,000 for the investment in bonds and will receive interest semiannually on June 30 and December 31. Prepare thejournal entries {at to record Lance Erothers' investment in the bonds on July 1, 2021, and {b} to record interest on December 31, 2021, at the effective (market) rate. [if no entry is required for a transactionfeuent, select "No journal entry required" in the first account field.) View transaction list 1 Record Lance Brothers\" investment in the bonds on Julyr I > 1, 2021. 2 Record interest on December 31, 2021, at the effective / (market) rate