On July 1, 2021, Marin Inc., a public company purchased $590,000 of Bramble Corp. 10-year, 3% bonds for $541,763 to earn interest. The bonds had a market interest rate of 4%. The bonds pay interest semi-annually on January 1 and July 1. Marin Inc. has a December 31 year end. At December 31, 2021, the bonds are trading at 96. Your answer is partially correct. Assuming Marin Inc. purchased the bonds from Bramble Corp., record the journal entries required on July 1 for Marin Inc., and Bramble 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 Ofor the amounts.) Marin (investor) Date Account Titles and Explanation Debit Credit July 1 Cash (To record purchase of investment.) Bramble (investee) Debit Credit Date Account Tities and Explanation 541.763 July 1 Cash 541.763 Bonds Payable (To record issuance of bonds payable.) Record any adjusting journal entries that are required at December 31 for Marin Inc., and Bramble 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 O for the amounts. Round answers to 0 decimal places, e.g. 5,275.) Marin (investor) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Receivable v Interest Revenue V (To accrue interest revenue.) Bramble (investee) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense Interest Payable (To accrue interest expense.) Record the receipt and payment of the first interest payment on January 1, 2022, for Marin Inc., and Bramble 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 O for the amounts.) Marin (investor) Date Account Titles and Explanation Debit Credit Jan. 1 Cash Interest Receivable (Collection of interest receivable.) Bramble (investee) Date Account Titles and Explanation Debit Credit Jan. 1 (To record payment of interest.)