Instructions Soto Industries Inc is an athletic footware company that began operations on January 1 Year 1 The following transactions relate to debt investments acquired by Soto Industries in which has a fiscal year ending on December 31 Record these transactions on page 10 Year 1 Api 1 June 1 Sept 1 Purchased $100 000 of Welch Co 6%, 15 year bonds at their face amount plus accrued interest of $500. The bonds pay interest smaally on March 1 and September 1 Purchased $210.000 of Bailey 4%10-year bonds at their face amount plus conued terest of 5700 The bonds pay interest semiannually on May 1 and November 1 Received semiannual interest on the Welch Coboru Sold 510 000 of Welch Co bonds 7 plus accrued interest of $200 Received semiannual interest on the Bailey bonds Accud 51,200 wterest on the Welch Co tonds Accrued 51.400 interest on the Balm bonds 30 Nov 1 Dec 31 31 hart of Accounts CHART OF ACCOUNTS Soto Industries Inc. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 611 Interest Revenue 120 Accounts Receivable 612 Dividend Revenue 631 Gain on Sale of Investments 641 Unrealized Gain on Trading Investments 121 Allowance for Doubtful Accounts 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance EXPENSES 511 Cost of Merchandise Sold 512 Bad Debt Expense 515 Credit Card Expense 161 Investments-Welch Co. Bonds 516 Cash Short and Over 162 Investments-Bailey Bonds 520 Salaries Expense Chart of Accounts TUVCSUTVICICLU Dumus 162 Investments-Bailey Bonds 165 Valuation Allowance for Trading Investments 166 Valuation Allowance for Available for Sale Investments 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Repairs Expense 534 Selling Expenses 535 Rent Expense 536 Insurance Expense 537 Office Supplies Expense 538 Store Supplies Expense 561 Depreciation Expense-Store Equipment 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 731 Loss on Sale of Investments 741 Unrealized Loss on Trading Investments LIABILITIES 210 Accounts Payable 221 Notes Payable 231 Interest Payable 241 Salaries Payable 251 Sales Tax Payable EQUITY estion Chart of Accounts 241 Salaries Payable 251 Sales Tax Payable 731 Loss on Sale of Investments 741 Unrealized Loss on Trading Investments EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Treasury Stock 332 Paid In Capital from Sale of Treasury Stock 340 Retained Earnings 350 Unrealized Gain (Loss) on Available for Sale Investments 351 Cash Dividends 352 Stock Dividends 390 Income Summary Journal Shaded cells have food 7o. Joumalze the entries to record Year transactions Refer to the formation given and the Chart of Accounts prowided for the exact wording of the answer choices for teen Question not attempted TIGE JOURNAL Score: 0/240 ACCOUNTING EQUATION DE DESOOPTICH POSL REY DET CREDIT ASETS OUT 1 1 4 7 Journal Shades 9 10 11 1 11 14 16 11 djusting Entries 1 29 21 Shaded celsefe Journal th. Journaliter the entries to record Year 2 transactions Refer to the information given and the Chart of Accounts provided for the exact wording of the answer choices for text entries Question not attempted MOET JOURNAL Score: 0/75 ACCOUNTING EQUATION DATE DSCUPTON POSE HIT DET ORIOT AMET LATITIS TORTY 1 2 1 + 5