North Investments completed the following investment transactions during 2024: i (Click the icon to view the investment transactions.) Read the requirements. Requirement 1. Journalize North's investment transactions. Explanations are not required. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.) Begin by journalizing North's investment on January 5, 2024. Accounts and Explanation Date 2024 Jan. 5 Equity Investment Cash Debit 50000 Credit 50000

North investments completed the following investment transactions during 2024 (1) (Click the icon to vew the investment tramsactions) Read the teguirements Requirement 1. Journalize Nore's investment transactions. Exptanasons aso not requeed. (Pecopd cebits fint then crests Select the explination on the las Ine of the joumal antry table. if no entry is required, seiect "No entry required" on the fnt ine of the Aceounts and Explanation column and leave the remaining oels blark.) Begin by joumaling North's ifvestinent on danuary 5,2024 ents completed the following investment transactions during 2024: icon to view the investment transactions.) More info 2024 Jan. 5 Purchased Varna Company's $500,000 bond at face value. North classified the investment as available-for-sale. The Varna bond pays interest at the annual rate of 10% on June 30 and December 31 and matures on December 31, 2029. Management's intent is to keep the bonds for several years. Jun. 30 Received an interest payment from Varna. Dec. 31 Received an interest payment from Varna. Dec. 31 Adjusted the investment to its current market value of $494,000. its completed the following investment transactions during 2024: on to view the investment transactions.) Requirements 1. Journalize North's investment transactions. Explanations are not required. 2. Prepare a partial balance sheet for North's Varna investment as of December 31, 2024. 3. Prepare a comprehensive income statement for North Investments for year ended December 31,2024 . Assume net income was $400,000