Soto Industries Inc. is an athletic footware company that began operations on January 1, 20Y3. The following are bond (held-to-maturity) transactions by Soto Industries Inc., which has a fiscal year ending on December 31: Record these transactions on page 10 20Y3 Apr. 1 Purchased S81,600 of Welch Co. 4%, 15-year bonds at their face amount plus accrued interest of $544. The bonds pay interest semiannually on March 1 and September 1. 1 Purchased S60.000 of Baley 8%, 10-year bonds at their face amount plus accrued interest of $200. The bonds pay interest semiannually on June May 1 and November 1. 1 Received semiannual interest on the Welch Co. bonds. Sept. 30 Sold $25.200 of Weich Co. bonds at 96 plus accrued interest of $84. 1 Received semiannual interest on the Bailey bonds. Nov. Dec. 31 Accrued interest on the Welch Co. bonds. 31 Accrued interest on the Bailey bonds. Record these transactions on page 11 20Y4 1 Received semiannual interest on the Weich Co. bonds. Mar. May 1 Recelived semiannual interest on the Bailey bonds. Required: 1. Joumalize the entries to record these transactions. Refer to the chart of accounts for the exact wording of the account tles. CNOW joumals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW joumals will automatical indent a credit entry when a credit amount is entered. Assume 360 days a year. Do not round your intermediate calculations and round final answers to the nearest dollar. 2. H the bond portiolo is clssifed as an avalable-for-sale investment, how would it be reported on the financial statements?

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