Take me to the text Wedge Inc. is planning to purchase $307,000 worth of 6-year bonds issued by William Company, a publically traded company in Ontario, on January 1, 2016 for $290,767. The interest rate of the bonds is 3% annually, payments are made semi-annually on June 30 and December 31 every year. The interest rate paid by similar bonds is at 4% per year in the market. Wedge Inc. has a December 31 year-end. Required Prepare journal entries for the bonds acquisition, the first and last interest payments and retirement of the bonds on January 1, 2022. Do not enter dollar signs of commas in the input boxes. For transactions that have 2 debits or 2 credits, enter the accounts in alphabetical order. Round all answers to the nearest whole numbet. Date Account Title and explanation Debit Credit Jan 1, 2016 Long-Term Investment 290767 Cash 290767 To record purchase of bonds at discount Jun 30 2016 Cash 4605 Long-Term Investment e 1210 Interest Revenue 5816 To record cash received and amortized discount Jun 30, 2016 Cash 4605 Long-Term Investment 1210 Interest Revenue 5816 To record cash received and amortized discount Dec 31, 2021 Cash 4605 Long-Term Investment Interest Revenue To record cash received and amortized discount Jan 1, 2022 Cash 307000 Long-Term Investment 307000 To record receipt of cash at maturity