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The Bradford Company issued 8% bonds, dated January 1, with a face amount of $100 million on January 1, 2021 to Saxton-Bose Corporation. The bonds

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The Bradford Company issued 8% bonds, dated January 1, with a face amount of $100 million on January 1, 2021 to Saxton-Bose Corporation. The bonds mature on December 31, 2030 (20 years). For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. (FV of $1. PV of $1, FVA of $1. PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 1. to 3. Prepare the journal entries to record the purchase of the bonds by Saxton-Bose on January 1, 2021, interest revenue on June 30, 2021 and interest revenue on December 31, 2021 (at the effective rate). (Enter your answers in whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. Credit No 1 Debit 100,000,000 Date General Journal January 01, 2021 Investment in bonds Discount on investment in bonds Cash 30,092,800 69,907,200 June 30, 2021 4,000,000 Cash Discount on investment in bonds Interest revenue 4,000,000 December 31, 202 Cash Discount on investment in bonds Interest revenue

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