Exercise 16-3 Flynn Company purchased 50 Rinehart Company 1296, 10-year, $1,000 bonds on January 1, 2014, for $50,000. The bonds pay interest semiannually on July 1 and January 1. On January 1, 2015, after receipt of interest, Flynn Company sold 30 of the bonds for $27,500. Prepare the journal entries to record the transactions described above. (Round answers to o decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) DateAccount Titles and Explanation Debit Credit Jan. 1, 2014 July 1, 2014 Dec. 31, 2014 Jan. 1, 2015 (To record receipt of interest) Jan. 1, 2015 (To record sale of bonds)