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REQUIRED 3: 3. Staples Company purchased bonds with a total face value $1,000,000 from Webster Company on March 1, 2019 at 100 (quote). The bonds

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REQUIRED 3: 3. Staples Company purchased bonds with a total face value $1,000,000 from Webster Company on March 1, 2019 at 100 (quote). The bonds are 7%, $1,000 bonds and pay interest every March 1. The bonds are a trading security on Staple's books On December 31, the bonds are reported on the balance sheet of Staples as an investment. The fair value of the bonds reflects that they have a 104 quote at December 31, 2019. December 31 is fiscal year-end. >>>Present the journal entries required by Staples Company in 2019 relating to the investment in the bonds

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