heridan AME ENGAGE English (en) rrect out of Take me to the text Feng Inc. is planning to purchase $346,000 worth of 6-year bonds issued

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heridan AME ENGAGE English (en) rrect out of Take me to the text Feng Inc. is planning to purchase $346,000 worth of 6-year bonds issued by George Company, a publicly traded company on January 1, 2020. The interest rate of the bonds is 5% annually payments are made semi-annually on June 30 and December 31 every year, Feng Inc. has a December 31 year-end and plans to hold the bonds until maturity. Required Prepare journal entries for the bonds' acquisition, the first interest payment and retirement of the bonds on January 1, 2026. ve flag Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. Account Title and Explanation Debit Credit Date Jan 1. 2020 Long-Term Investment - Bonds 346000 Cash . 346000 To record purchase of bonds at par Jun 30, 2020 Cash Interest Revenue To record cash receipt of interest Ilan 1 2026 Cash Long-Term Investment - Bonds To record receipt of cash at maturity DI O E 9 Type here to search