connectmeducation.com/flow.connect Lance Brothers Enterprises acquired $665 000 of 3% bonds dated July 1 on July 2021, as a long term investment Management has the positive intent and ability to hold the bonds until maturity. The market interest rate yeld was for bonds of similar risk and maturity Lance Brothers paid $585,000 for the investment in bonds and will receive interest semiannually on June 30 and December Prepare the journal entries to record Lance Brothers' investment in the bonds on July 1 2021, and to record interest on December 31, 2021, at the effective market rate, no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transactions Journal entry worksheet Record Lance Brothers Investment in the bonds on July 1, 2021 Record entry Clear entry pe here to search 3 * 0 o