Entries for Investment in Bonds, Interest, and Sale of Bonds Parilo Company acquired $159,600 of Makofske Company, 8% bonds on May 1,20Y5, at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1,20Y, Parilo sold $54,600 of the bonds for 97. Journalize the entries to record the following under the cost method: If an amount box does not require an entry, leave it blank. a. The initial acquisition of the bonds on May 1. 20Y5 May 1 Feedback Check My Work a. Record the investment at face value. b. The semiannual interest received on November 1. 2OY5 Nov. 1 X Check My Work c. Calculate the proceeds: First compute the % face amount of bonds sold. To complete the d. The accrual of $1,400 interest on December 31,20Y5. 20Y5 Dec. 31