Part 28 On July 1, 2018, Thunder Company purchased $400,000 of reflecting a 12% market rate. Interest on the bonds is paid semi annually on December Jazz Company's 10%, 10-year bonds for $354,118, 31 and June 30. of the bonds? Below the Requirement 1: On July 1,2018, what entry did Thunder record for the purchase entry, ASSETSLIABILITIES SHAREHOLDERS' EQUITY 2018 NET INCOME 3 54118 Requirement 2: On December 31, 2018, what entry did Thunder record for the receipt of a semiannual interest payment from Jazz Co? Below the entry, show the effect of the transaction on the 2018 financial statements Thunder recorded interest using the effective interest method. ASSETS LIABILITIES + SHAREHOLDERS' EQUITY 2018 NET INCOME Requirement 3: At the end of 2018, the fair value of the Jazz Co. bonds is $344,000. Show the amount reported for the investment on the 2018 balance sheet If the Investment is classified as a He Requirement 4: If Thunder holds the Jazz Co. bonds for 10 years (to maturityl, what is the total amount of interest revenus Thunder will recognize? SHOW COMPUTATIONS TO SUPPORT YOUR