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Sullivan purchased a bond on January 1, 2018, for $70,000. The bond has a face value of $70,000 and matures in 20 years. The bond

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Sullivan purchased a bond on January 1, 2018, for $70,000. The bond has a face value of $70,000 and matures in 20 years. The bond pays interest on June 30 and December 31 at a 3% annual rate. Sullivan plans on holding the investment until maturity. Read the requirements Requirement 1. Journalize the 2018 transactions related to Sullivan's bond investment. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Begin by journalizing Sullivan's investment on January 1, 2018. Requirements 1. Journalize the 2018 transactions related to Sullivan's bond investment. Explanations are not required. 2. Journalize the transaction related to Sullivan's disposition of the bond at maturity on December 31, 2037. (Assume the last interest payment has already been recorded.) Explanations are not required. Print Done Tan

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