Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold $30,000 of the Sanz County bonds at 99 plus $150 accrued interest less a $100 brokerage commission. Do not round Interim calculations. Round final answers to nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Assume a 360-day year. 2. Provide the journal entry for the purchase of the bonds on May 11 plus 40 days of accrued interest Tvestments and county Bonds 120.000 Interest Receivable de amount of bands interest rate 60 days = 360 days and the cash Record the investment at face debit). Interest receivable (det for paid for the sum of cash plus interest racolvable. b. Provide the journal entry for semiannual interest on October 1. Year 1 Oct. 1 Cash 2,811 X 2,811 X Interest Receivable Interest Revenue b. Bond principal x interest rate x half a year = total interest. Record this amount as a debit to Cash. Reduce interest receivable (credit amount calculated in requirement (a) and increase interest revenue (credit) for the difference between the cash and the interest receive adjustment. C. Provide the journal entry for the sale of the bonds on October 31 Year 1 oa al Cash Loss on sale of Investments &