Chapter 15 Assignment Problems LT Investment- non-strategic investment As a long-term investment, Ellen Co.paid $700,000 (par value) for Nickel Bankbonds, plus $500 transaction fee. The bonds pay 5.5% interest semi annu ally on September 1 and March 1. Prepare the journal entries for the following tran sactions. Round all values to the nearest dollar Record the following entries: (1) Purchase on September 1, 2016 (2) Year-en d adjusting entry, December 31, 2016 (3) Receipt of semiannual interest payment March 1, 2017 (4) Redemption of the bonds at matu rity General Journal. Date Account Titles and Explanation Debit Credit