3NisPrepare Garzon Company's journal entries to record the following transactions for the current year.January 1 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which isthe par value.June 30 Receives first semiannual payment of interest from PBS bonds.December 31 Receives a check from PBS in payment of principal ($52,800) and the second semiannual payment ofinterest.View transaction listJournal entry worksheet123Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at acost of $52,800, which is the par value.DateJanuary 01Note: Enter debits before credits.General Journal***DebitCredit

A journal entry records a business transaction in the accounting system for an organization.It is a…

Journal entry worksheet < 1 2 3 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. Date January 01 Note: Enter debits before credits. General Journal Debit Credit >

Journal entry worksheet < 1 2 3 Purchases 8.5% bonds (as a held-to-maturity investment) issued by PBS at a cost of $52,800, which is the par value. Date January 01 Note: Enter debits before credits. General Journal Debit Credit >

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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