Gonzalez Company acquired $180,000 of Walker Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $55,800 of the bonds for 99. Journalize entries to record the following in Year 1 (refer to the Chart of Accounts for exact wording of account titles): a The initial acquisition of the bonds on May 1. b. The semiannual interest received on November 1, The sale of the bonds on November 1. d The accrual of $1,242 interest on December 31. DATE DESCRIPTION Adjusting Entries JOURNAL ACCOUNTING EQUATION POST REF DEBIT CREDIT ASSETS LIABILITIES EQUITY