Sandy Sensations purchases fifteen $1,000, 9%, 13-year bonds issued by Pizza Pier for $15,000 on January 1, 2021. The market interest rate for bonds of similar risk and maturity is 9%. Interest is received semiannually on June 30 and December 31.

1. & 2. Record the necessary entries regarding the bonds. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations.)

Required:

Journal entry worksheet:

1. Record the investment in bonds

2. Record the receipt of the first payment