Journalize entries to record the following in Year 1
Entries for Investment in Bonds, Interest, and Sale of Bonds
Gonzalez Company acquired $160,800 of Walker Co., 4% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $48,000 of the bonds for 95.
For a compound transaction, if an amount box does not require an entry, leave it blank. cash/interest receivable/interest revenue/intestments-walker co. bonds/notes receivable/gain on sale of investments/loss on sale of investments/
a. The initial acquisition of the bonds on May 1.
| May 1 | fill in the blank c03a4cfc3fb402e_2 | ||
| fill in the blank c03a4cfc3fb402e_4 |
b. The semiannual interest received on November 1.
| Nov. 1 | fill in the blank 6a1691048043fc2_2 | ||
| fill in the blank 6a1691048043fc2_4 |
c. The sale of the bonds on November 1.
| Nov. 1 | fill in the blank ef2f17f46f98feb_2 | fill in the blank ef2f17f46f98feb_3 | |
| fill in the blank ef2f17f46f98feb_5 | fill in the blank ef2f17f46f98feb_6 | ||
| fill in the blank ef2f17f46f98feb_8 | fill in the blank ef2f17f46f98feb_9 |
d. The accrual of $752 interest on December 31.
| Dec. 31 | fill in the blank fcbf0cff4feffef_2 | ||
| fill in the blank fcbf0cff4feffef_4 |
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