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Please help me answer part 1 and part 2 of this question and pleases provide the steps taken in getting the answer Required information [The

Please help me answer part 1 and part 2 of this question and pleases provide the steps taken in getting the answer

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Required information [The following information applies to the questions displayed below.] Marcy's, Inc., operates nearly 850 Marcy's and Bloomington's department stores globally. The company does more than $24 billion in sales each year. Assume that as part of its cash management strategy, Marcy's purchased $11.4 million in bonds at par for cash on July 1 of the current year. The bonds pay 11 percent interest annually, with payments on June 30 and December 31, and mature in 8 years. Marcy's plans to hold the bonds until maturity. Required: 1. Record the purchase of the bonds on July 1 of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0).) View transaction list Journal entry worksheet Record the purchase of the bonds on July 1 of the current year. Note: Enter debits before credits. Date General Journal Debit Credit July 01 Investments Cash Record entry Clear entry View general journal2. Record the receipt of interest on December 31 of the current year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0).) View transaction list Journal entry worksheet Record the receipt of interest on December 31 of the current year. Note: Enter debits before credits. Date General Journal Debit Credit December 31 Record entry Clear entry View general journal

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