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On June 30, 150,000 of 5-year, 9% Orbit bonds are issued at $ 138,694 to yield a market interest rate of 11%. Interest is payable

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On June 30, 150,000 of 5-year, 9% Orbit bonds are issued at $ 138,694 to yield a market interest rate of 11%. Interest is payable semi 1 (a) Record the purchase of these bonds on June 30 and the receipt of the first interest payment on December 31 on the books of the investor assuming the bonds are to be held to maturity.(Credit account titles are outomaticaly indented when the amount is entered. Do not indent manually. Round answers to O decimal places, es 5,275.If no entry is required, select "No Entry' for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Dec. 31

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