Purchase and sale of fonts Borealis Company anters into the following transactions during 2017 and 2018: Required: 1. Identity and analyze at transactions on Borats's records to account for its investment in the Southern Star borda. 2017 Jan. 1. Purchased $73,000 face value of Southern Star Enterprises bands trace value. The newly ssued bonds have an interest rate of pais semiannually on luse 30 and December 1 The bonds mature five years. Activity Accounts Statements How does this entry affect the accounting equation? of financial statement item is not affected, elect"No Estry and have the amount box blank. If the effect on a financial statement item is negativele, a decrease be sure to enter the art with a is in Balance Sheet Income Statement Stockholders Net Assets Liabilities Equity Revenues Expenses Income 2017 June 10: Rective interest on the South Star Enterprises bonds Activity Accounts How does the cotry affect the accounting equation? Ir a financial statement is not tud, teedo Entry and leave the amount to black the effect on a finca amat dan is negative, decreme, tutorial thanwww was Pinus sign Income Statement Stockholders Net Assets Liabilities Equity Revenues Expenses Income 2017 Dec 31 Received interest on the Southern Star Enterprises bonds Activity Accounts Statement) How does this entry ect the accounting equatio If a financial statement item is not affected, select "Ne Entry and leave the amount boxbank. In the effect on instant miste decrease be sure to enter the answer with a minuti Balance Sheet Income Statement Stockcha ers! Net Assets Liabilities Equity Revenues -Income Expenses + 2018 Jan 1 Sold the Southern Stw Enterprises bands for 575.000 Activity Accounts Statement How does this entry affect the counting equation If a mandatarantam is not affected 'No Entry and leave the amount to blank. If the effect on a statement is atve, la trase be sure to the with a (Premio Nex How does this entry are the accounting equation? If financial statement item is not affected, select "No Entry and have the amount box blank. If the effect on a financial statement te is negative, e, a decrease be sure to enter the answer with a minussige Balance Sheet Income Statement Stockholders' Net Assets Liabilities Equity Revenue Expenses Income 2. Borealis was able to sell Southern Star bonds for $75,000 which is more than the bands will pay because the bonds carry a lower periodic interest than the market rate of interest that was in effect at the time of the sale be the bonds carry a higher periodic interest than the market rate of interest that was in effect at the time of the sale the bonds were sold at face value in 2017 d. none of the above