suppose Smith and sons purchases $1,100,000 of 7.5% annual bonds of bridge corporation at a face value on January 1, 2018. These bonds pay interest on June 30 and December 31 each year. They mature on December 31, 2022. Smith intends to hold the bridge bond investment until maturity.

Suppose Smith and Sons purchases $1,100,000 of 7.5% annual bonds of Bridge Corporation at face value on January 1, 2018. These bonds pay interest on June 30 and December 31 each y intends to hold the Bridge bond investment until maturity Read the requirements Requirement 1. Journalize Smith and Sons's transactions related to the bonds for 2018. (Record debits first, then credits. Select the explanation on the last line of the joumal entry tablo) Begin by joumalizing Smith and Sons investment on January 1, 2018 Date Accounts and Explanation Debit Credit 2018 Jan 1 Next journalize the receipt of cash interest on June 30, 2018 Date Accounts and Explanation Debit Credit 2018 Jun 30 the rains dans Journalize the receipt of cash interest on December 31, 2018. Date Accounts and Explanation Debit Credit 2018 Dec. 31 Requirement 2. Journalize the entry required on the Bridge bonds maturity date. (Assume the last interest payment has already Date Accounts and Explanation Debit Credit 2022 Dec. 31