Entries for bond (held-to-maturity) investments Demopoulos Company acquired $166,200 of Marimar Co., 7% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $42,600 of the bonds for 95. 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 - Select - - Select - - Select - - Select - b. The semiannual interest received on November 1. Nov. 1 - Select - - Select - - Select - - Select - c. The sale of the bonds on November 1. Nov. 1 - Select - - Select - - Select - - Select - - Select - - Select - d. The accrual of $1,442 interest on December 31. Dec. 31 - Select - - Select - - Select - - Select -
Entries for bond (held-to-maturity) investments Demopoulos Company acquired $166,200 of Marimar Co., 7% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $42,600 of the bonds for 95. 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 - Select - - Select - - Select - - Select - b. The semiannual interest received on November 1. Nov. 1 - Select - - Select - - Select - - Select - c. The sale of the bonds on November 1. Nov. 1 - Select - - Select - - Select - - Select - - Select - - Select - d. The accrual of $1,442 interest on December 31. Dec. 31 - Select - - Select - - Select - - Select -
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Entries for bond (held-to-maturity) investments
Demopoulos Company acquired $166,200 of Marimar Co., 7% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $42,600 of the bonds for 95.
If an amount box does not require an entry, leave it blank.
a. The initial acquisition of the bonds on May 1.
| May 1 |
|
- Select - | - Select - |
|
|
- Select - | - Select - |
b. The semiannual interest received on November 1.
| Nov. 1 |
|
- Select - | - Select - |
|
|
- Select - | - Select - |
c. The sale of the bonds on November 1.
| Nov. 1 |
|
- Select - | - Select - |
|
|
- Select - | - Select - | |
|
|
- Select - | - Select - |
d. The accrual of $1,442 interest on December 31.
| Dec. 31 |
|
- Select - | - Select - |
|
|
- Select - | - Select - |
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