On January 1, 2017, Bonita Company purchased at par 6% bonds having a maturity value of $320,000. They are dated January 1, 2017, and mature January 1, 2017 2022, with interested received on January 1 of each year. The bonds are classified in the held-to maturity category.

(a) Prepared the journal entry at the date of the bond purchase.

(b) Prepare the journal entry to record the interest revenue on December 31, 2017

(c) Prepare the journal entry to record the interest received on January 1, 2018.

No Account Titles and Explanation Debit Credit

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