On January 1, 20X7, Salvatori Entity (SE) purchased Lovani Entity's (LE) 5-year, 6 percent bonds with a face amount of $100,000 for $95,000. Interest is payable semiannually on June 30 and December 31.
Who has a financial asset (and what is the asset) and who has a financial liability (and what is the liability?

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The Answer of On January 1, 20X7, Salvatori Entity (SE) purchased Lovani Entity's (LE) 5-year, 6 percent bonds with a face amount of $100,000 for $95,000. Interest is payable semiannually on June 30 and December 31.
Who has a financial asset (and what is the asset) and who has a financial liability (and what is the liability?

On January 1, 20X7, Salvatori Entity (SE) Purchased Lovani Entity's