Demopoulos Company acquired $150,000 of Marimar Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $55,000 of the bonds for 98. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. a.  The initial acquisition of the bonds on May 1. May 1   fill in the blank a5307e01af9f064_2 fill in the blank a5307e01af9f064_3     fill in the blank a5307e01af9f064_5 fill in the blank a5307e01af9f064_6 b.  The semiannual interest received on November 1. Nov. 1   fill in the blank 19e6b7081ff3f90_2 fill in the blank 19e6b7081ff3f90_3     fill in the blank 19e6b7081ff3f90_5 fill in the blank 19e6b7081ff3f90_6 c.  The sale of the bonds on November 1. Nov. 1   fill in the blank 7f4689fdef9d03a_2 fill in the blank 7f4689fdef9d03a_3     fill in the blank 7f4689fdef9d03a_5 fill in the blank 7f4689fdef9d03a_6     fill in the blank 7f4689fdef9d03a_8 fill in the blank 7f4689fdef9d03a_9 d.  The accrual of $950 interest on December 31. Dec. 31   fill in the blank 19ebffff0fc3f9b_2 fill in the blank 19ebffff0fc3f9b_3     fill in the blank 19ebffff0fc3f9b_5 fill in the blank 19ebffff0fc3f9b_6

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Entries for bond (held-to-maturity) investments

Demopoulos Company acquired $150,000 of Marimar Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $55,000 of the bonds for 98.

Journalize the entries to record the following:

If an amount box does not require an entry, leave it blank.

a.  The initial acquisition of the bonds on May 1.

May 1   fill in the blank a5307e01af9f064_2 fill in the blank a5307e01af9f064_3
    fill in the blank a5307e01af9f064_5 fill in the blank a5307e01af9f064_6

b.  The semiannual interest received on November 1.

Nov. 1   fill in the blank 19e6b7081ff3f90_2 fill in the blank 19e6b7081ff3f90_3
    fill in the blank 19e6b7081ff3f90_5 fill in the blank 19e6b7081ff3f90_6

c.  The sale of the bonds on November 1.

Nov. 1   fill in the blank 7f4689fdef9d03a_2 fill in the blank 7f4689fdef9d03a_3
    fill in the blank 7f4689fdef9d03a_5 fill in the blank 7f4689fdef9d03a_6
    fill in the blank 7f4689fdef9d03a_8 fill in the blank 7f4689fdef9d03a_9

d.  The accrual of $950 interest on December 31.

Dec. 31   fill in the blank 19ebffff0fc3f9b_2 fill in the blank 19ebffff0fc3f9b_3
    fill in the blank 19ebffff0fc3f9b_5 fill in the blank 19ebffff0fc3f9b_6
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