↑ On January 1, 2024, War's Restaurant decides to invest in Lake Langdon bonds. The bonds mature on December 31, 2027, and pay interest on June 30 and December 31 at 8% annually. The market rate of interest was 8% on January 1, 2024, so the $140,000 maturity value bonds sold for face value. Warden's intends to hold the bonds until December 31, 2027 2024 Jan. 1 Requirement 1. Journalize the transactions related to Warden's investment in Lake Langdon bonds during 2024. (Record debits first, then credits Select the explanation on the last entry table) Begin by journalizing Warden's investment in Lake Langdon bonds on January 1, 2024. Date Accounts and Explanation Debit Available-for-Sale Debt Investments Cash Dividend Revenue Fair Value Adjustment-Available-for-Sale Fair Value Adjustment-Held-to-Maturity Held-to-Maturity Debt Investments Requirements 1. Joumalize the transactions related to Warden's investment in Lake Le during 2024 Credit 2. In what category would Warden's report the investment on the Decem balance sheet?

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