Universal Foods issued 12% bonds, dated January 1, with a face amount of $160 million on January 1, 2021 to Wang Communications The bonds mature on December 31, 2035 (15 years). The market rate of interest for similar issues was 14%. Interest is paid semiannually on June 30 and December 31. (V of $1 PV of $1. FVA of S1 PVA of $1. EVAD of $1 and PVAD of.5.1) (Use appropriate factor(s) from the tables provided.) Required: 1. to 3. Prepare the journal entries to record the purchase of the bonds by Wang Communications on January 1, 2021, interest revenue on June 30, 2021 and interest revenue on December 31, 2028. (Round final answers to the nearest whole dollars. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No 1 Answer is complete but not entirely correct. Date General Journal Debit January 01,2021 Investment in bonds 160,000,000 Discount on investment in bonds Cash Credit 3 19,854 496 140,145 504 2 June 30, 2021 Casti Discount on investment in bonds Interest revenue 9.000.000 210.1853 9,810,185 GH, T. Discount on investment in bonds were revenue 9,600.000 224,898 * 0.024898