NWP Assessment et ucation wiley.com (FOR MARKS) Question 3 of 7 0.52 / 1 View Policies Show Attempt History Current Attempt in Progress On July 1.2021, Windsor Inc., a public company purchased $450,000 of Novak Corp. 10-year, 5% bonds for $416,526 to earn interest. The bonds had a market interest rate of 6%. The bonds pay interest semi-annually on January 1 and July 1. Windsor Inc. has a December 31 year end. At December 31, 2021, the bonds are trading at 96. (a) Your answer is correct. Assuming Windsor Inc. purchased the bonds from Novak Corp.record the journal entries required on July 1 for Windsor Inc., and Novak Corp. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Windsor (investor) Date Account Titles and Explanation July 1 Investments at Amortized Cost Debit Credit 416526 Cash 416526 (To record purchase of investment.) NW Assessment PlayerUI AP: het 10 100 Question 3 of 7 0.52/1 Record any adjusting journal entries that are required at December 31 for Windsor Inc., and Novak Corp. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places, es 5,275) Windsor (investor Date Account Titles and Explanation Debit Credit Dec. 31 Interest Receivable 13500 Investments at Amortized Cost 10125 3375 Interest Revenue [To accrue interest revenue.) Novak (investee) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense 3375 Bonds Payable 10125 13500 Interest Poble (To accrue interest expense.) e Textbook and Media Savet Attempts: 2 of 3 used Submit A c) The parts of this son must be completed in order this part will be available when you complete the part above ASUS VivoBook