Entries for investment in bonds, interest and sale of bondsGonzalez Company acquired $200,000 of Walker Co., 6% bonds on May 1at their face amount. Interest is paid semiannually on May 1 andNovember 1. On November 1, Gonzalez Company sold $70,000 of the bonds for 97.Journalize entries to record the following in Year 1:a. The initial acquisition of the bonds on May 1. b. The semiannual interest received on November 1.c. The sale of the bonds on November 1.d. The accrual of $1,300 interest on December 31.

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