Prepare Garzon Company's journal entries to record the following transactions for the current year.

January 1	Purchases 5.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $48,000, which is the par value.
June 30	Receives first semiannual payment of interest from PBS bonds.
December 31	Receives a check from PBS in payment of principal ($48,000) and the second semiannual payment of interest.