Veritas Corp began operation on Jan 1 2018 on this same day veritas purchased an investment in bond with a face value of 500,000 and a stated interest rate of 8% (with interest payable each dec 31^st )the bond will mature in 8years. At the time the bind was purchased the market rate for similar bond was 6%. Veritas decided to classify its investment as an available for sale (AFS) security. Veritas has a December 31^st year end.

1. Prepare the journal entry that veritas will make on January 1, 2018, to record the purchase of bond investment
2. Prepare the journal entry that veritas would make on dec31st 2018 to record interest and amortize the bond investment.
3. At dec 31^st 2018 the fair market value of veritas investment in AFS securities was $550,000. Prepare the journal entry needed to adjust veritas's securities to the fair market value.
4. In 2019, veritas decided to sell its investment in AFS Securities for $560,000. Prepare all journal entries veritas when his investments sold