Exercise 16-3 Flynn Company purchased 70 Rinehart Company , 10-year, $1,180 bonds on January 1, 2017 for $82,600. The bonds pay interest annually on January 1. On January 1, 2018, after receipt of Interest, Flynn Company sold 40 of the bonds for $45,430. Prepare the journal entries to record the transactions described above. (Round answers to decimal places. 120. Cred account titles are automatically indented when amount entered. Do not indent manually. If no entry is required, select "No entry for the accounts and enter for the amounts Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record receipt of interest) Jan 1, 2018