PR 15-1A Debt investment transactions, availabl Soto Industries Inc. is an athletic footware company t Year I. The following transactions relate to debt investments acquired by Soto Induties e-for-sale valuation OBJ.2, neral dger that began operations on January 1, Inc., which has a fiscal year ending on December 31: Year 1 Apr. Purchased $100,000 of Welch Co. 6%, 15-year bonds at their face,amount plus accrued interest of $500. The bonds pay interest semiannually on Marc 1. 1 and September 1 Purchased $210,000 of Bailey 4%, 10-year bonds at their face amount plus accrued interest of $700. The bonds pay interest semiannually on May 1 Received semiannual interest on the Welch Co. bonds. June 1. and November 1. Sept. 1. 30. Sold $40,000 of Welch Co. bonds at 97 plus accrued interest of Nov. 1. Received semiannual interest on the Bailey bonds. Dec. 31. Accrued $1,200 interest on the Welch Co. bonds. 31. Accrued $1,400 interest on the Bailey bonds. Year 2 Mar. 1. Received semiannual interest on the Welch Co. bonds May 1. Received semiannual interest on the Bailey bonds. Instructions 1. Journalize the entries to record these transactions. 2. If the bond portfolio is classified as available for sale, what impact would this have on financial statement disclosure