On January 1, 2018, the Chef's Restaurant decides to invest in Lake Myrth bonds. The bonds mature on December 31, 2025, and pay interest on June 30 and December 31 at 6% annually. The market rate of interest was 6% on January 1, 2018, so the $60,000 maturity value bonds sold for face value. Chef's intends to hold the bonds until December 31, 2025. Requirements 1. Journalize the transactions related to Chef's investment in Lake Myrth bonds during 2018. 2. In what category would Chef's report the investment on the December 31, 2018, balance sheet? Requirement 1. Journalize the transactions related to Chef's investment in Lake Myrth bonds during 2018. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Begin by journalizing Chef's investment in Lake Myrth bonds on January 1, 2018. Date Accounts and Explanation 2018 Jan. 1 Available-for-Sale Debt Investments Cash Purchased investment in bonds. Next, journalize Chef's receipt of interest on June 30, 2018. Date 2018 Jun. 30 Cash Interest Revenue Accounts and Explanation Received cash interest. Debit Credit Debit Credit Next, journalize Chef's receipt of interest on June 30, 2018. Date Accounts and Explanation 2018 Jun. 30 Cash Interest Revenue Received cash interest. Now journalize Chef's receipt of interest on December 31, 2018. Date 2018 Dec. 31 Accounts and Explanation Debit Credit Debit Credit Requirement 2. In what category would Chef's report the investment on the December 31, 2018, balance sheet? Chef's would report the investment as a(n) debt investment classified as a asset on the December 31, 2018, balance sheet