Chen Company purchased 70 Feng Company 6%, 10-year, $10,000 bonds on January 1, 2017 for $700,000. The bands pay interest annually on January 1. On January 1, 2018, after receipt of interest, Chen Company sold 42 of the bonds for $391,000 Instructions Prepare the journal entries to record the transactions described above Chen Company purchased 70 Feng Company 6%, 10-year, $10,000 bonds on January 1, 2017 for $700,000. The bands pay interest annually on January 1. On January 1, 2018, after receipt of interest, Chen Company sold 42 of the bonds for $391,000 Instructions Prepare the journal entries to record the transactions described above