Business, 06.10.2019 10:00 hamptonjeleesa

Colah company purchased $1 million of jackson, inc., 5% bonds at par on july 1, 2018, with interest paid semiannually. colah determined that it should account for the bonds as an available-for-sale investment. at december31, 2018, the jackson bonds had a fair value of $1.2 million. colah sold the jackson bonds on july 1, 2019 for$900,000.required: 1. prepare colah’s journal entries to record: a. the purchase of the jackson bonds on july 1b. interest revenue for the last half of 2018c. any year-end 2018 adjusting entriesd. interest revenue for the first half of 2019e. any entries necessary upon sale of the jackson bonds on july 1, 2019, including updating the fair-valueadjustment, recording any reclassification adjustment, and recording the sale2. fill out the following table to show the effect of the jackson bonds on colah’s net income, other comprehensiveincome, and comprehensive income for 2018, 2019, and cumulatively over 2018 and 2019.2018 2019 totalnet incomeocicomprehensive income

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Colah company purchased $1 million of jackson, inc., 5% bonds at par on july 1, 2018, with interest...

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