! Required information EA-1 (Algo) Recording Bonds Held to Maturity LOA-1 [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 $10.3 million in bonds at par for cash on July 1 of the current year. The bonds pay 12 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. EA-1 Part 1 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).)