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calculations are done by the month. Required: Hide us at 100 plus a Journalize the entry to record the bond purchase. Journalize the receipt of interest on December 31, 2012. • Journalize the February 1, 2013 sale of the bonds for $82,000 plus accrued interest. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

calculations are done by the month. Required: Hide us at 100 plus a Journalize the entry to record the bond purchase. Journalize the receipt of interest on December 31, 2012. • Journalize the February 1, 2013 sale of the bonds for $82,000 plus accrued interest. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On September 1, 2012, Parsons Company purchased $84,000, 10 year, 7% government bonds at 100 plus accrued interest. The semi-annual interest payment dates are June 30 and December 31. Interest calculations are done by the month. Required: Hide • Journalize the entry to record the bond purchase. Journalize the receipt of interest on December 31, 2012. • Journalize the February 1, 2013 sale of the bonds for $82,000 plus accrued interest. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". a. 2012 Sept. 1 b. 2012 Dec. 31 c. 2013 Feb. 1
Transcribed Image Text:On September 1, 2012, Parsons Company purchased $84,000, 10 year, 7% government bonds at 100 plus accrued interest. The semi-annual interest payment dates are June 30 and December 31. Interest calculations are done by the month. Required: Hide • Journalize the entry to record the bond purchase. Journalize the receipt of interest on December 31, 2012. • Journalize the February 1, 2013 sale of the bonds for $82,000 plus accrued interest. For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". a. 2012 Sept. 1 b. 2012 Dec. 31 c. 2013 Feb. 1
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