Salt Foods purchases forty $$1,000,7\%,10-$year bonds issued by Pretzelmania, Incorporated, for $$42,975$ on January $1.$ The market interest rate for bonds of similar risk and maturity is $6\%.$ Salt Foods receives interest semiannually on June $30$ and December $31.$

& $2.$ Record the necessary entries regarding the bonds. $($If no entry is required for a particular transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Round your answers to the nearest whole number.$)$

Journal entry worksheet

$1$

$2$

Record the investment in bonds.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $01,,,],[,,,],[,,,],[,,,],[,,,]]$

$MC$

Prey

$3$ of $6$

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