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Transactions for Bond ( Held - to - Maturity ) InvestmentsRekya Mart Inc. is a general merchandise retail company that began operations on January 1

Transactions for Bond (Held-to-Maturity) InvestmentsRekya Mart Inc. is a general merchandise retail company that began operations on January 1,20Y5. The following are bond (held-to-maturity) transactions by Rekya Mart Inc., which has a fiscal year ending on December 31:20Y5 Apr. 1.Purchased $54,000 of Smoke Bay 4%,10-year bonds at their face amount plus accrued interest of $360. The bonds pay interest semiannually on February 1 and August 1.May 16.Purchased $110,000 of Geotherma Co.6%,12-year bonds at their face amount plus accrued interest of $275. The bonds pay interest semiannually on May 1 and November 1.Aug. 1.Received semiannual interest on the Smoke Bay bonds.Sept. 1.Sold $21,600 of Smoke Bay bonds at 103 plus accrued interest of $72.Nov. 1.Received semiannual interest on the Geotherma Co. bonds.Dec. 31Accrued interest on the Smoke Bay bonds.Dec. 31Accrued interest on the Geotherma Co. bonds.20Y6 Feb. 1.Received semiannual interest on the Smoke Bay bonds.May 1.Received semiannual interest on the Geotherma Co. bonds.Required:1. Journalize the entries to record these transactions. If an amount box does not require an entry, leave it blank. Do not round your intermediate calculations and round final answers to the nearest dollar. Use the nearest whole month for the interest period.DateDescriptionDebitCredit20Y5 Apr. 1.fill in the blank 2fill in the blank 3 fill in the blank 5fill in the blank 6 fill in the blank 8fill in the blank 9 May 16.fill in the blank 11fill in the blank 12 fill in the blank 14fill in the blank 15 fill in the blank 17fill in the blank 18 Aug. 1.fill in the blank 20fill in the blank 21 fill in the blank 23fill in the blank 24 fill in the blank 26fill in the blank 27 Sept. 1.fill in the blank 29fill in the blank 30 fill in the blank 32fill in the blank 33 fill in the blank 35fill in the blank 36 fill in the blank 38fill in the blank 39 Nov. 1.fill in the blank 41fill in the blank 42 fill in the blank 44fill in the blank 45 fill in the blank 47fill in the blank 48 Dec. 31 Smoke Bayfill in the blank 50fill in the blank 51 fill in the blank 53fill in the blank 54 Dec. 31 Geotherma Co.fill in the blank 56fill in the blank 57 fill in the blank 59fill in the blank 6020Y6 Feb. 1.fill in the blank 62fill in the blank 63 fill in the blank 65fill in the blank 66 fill in the blank 68fill in the blank 69 May 1.fill in the blank 71fill in the blank 72 fill in the blank 74fill in the blank 75 fill in the blank 77fill in the blank 782. If the bond portfolio is classified as available for sale, what impact would this have on financial statement disclosure?If the bonds are classified as available-for-sale securities, then the portfolio of bonds would need to be adjusted to . This would be recorded by using a valuation allowance account and account.Check My Work

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