Garfield Company purchased, as a held-to-maturity investment, $95,300 of the 10%, 6-year bonds of Chester Corporation for $87,464, which provides an 12% return.

Brief Exercise 17-1 Garfield Company purchased, as a held-to-maturity investment, $95,300 of the 10%, 6-year bonds of Chester Corporation for $87,464, which provides an 12% return. Prepare Garfield's journal entries for (a) the purchase of the investment, and (b) the receipt of annual interest and discount amortization. Assume effective-interest amortization is used. (Round answers to O decimal places, e.g. 1,225. 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 O for the amounts No. Account Titles and Explanatiorn Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: o of 3 used SAVE FOR LATER SUBMIT ANSWER SUBMIT