Walman Company purchased 70 Wade Company 6%, 10-year, $1,000 bonds on January 1, 2017, for $70,000 in anticipation of a market decline that did not happen. in interest rates. The bonds pay interest annually on Jan 1. On Jan 1, 2018, after receipt of interest, Walman Company sold 40 bonds for $38,500. Instructions Prepare the journal entries to record the transactions described above.