On June $1,2018,$ Josh's Restaurant decides to invest excess cash of $$54,400$ from the tourist season by purchasing a Jackrabbit, Inc. bond at face value. At year$-$end, December $31,2018,$ Jackrabbit's bond had a market value of $$51,200.$ The investment is categorized as an available$-$for$-$sale debt investment and will be held for the short$-$term.

Read the requirements.

Requirement $1.$ Journalize the transactions for Josh's investment in Jackrabbit, Inc. for $2018.($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 Josh's investment in the Jackrabbit, Inc., bond on June $1,2018.$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Jun$.1],[,,,],[,,,],[,,,],[,,,]]$