On September 30, 2018, Pontex, Inc., purchased 5.5 % bonds of Hammond Corporation at 96 as a long-term, held-to-maturity investment. The maturity value of the bonds will be $24,000 on September 30, 2023. TH bonds pay interest on March 31 and September 30. Pontex's fiscal year end December 31 Read the requirements. Requirement 1. What method should Pontex use to account for its investment in the Hammond Corp. bonds? method to account Pontex should use the equity r its investment in the Hammond Corp. bonds. Requirement 2. Using the straight-line method of amortizing the discount on bonds, journalize all of Pontex's transactions iournal entries.) n the bonds for 2018. (Record debits first, then credits. Exclude explanations from any Start by journalizing the purchase of the bonds in Hammond on September 30, 2018. Journal Entry Date Accounts Debit Credit 30 Held-to-Maturity Investment in Bonds 22680 Sep Cash 22680