Journalize the entries to record the following selected bond investment transactions for Southwest Bank: Apr. 1 Purchased $400,000 of Daytona Beach 4.5% bonds at 100 plus accrued interest of $4,500. July 1 Received the first semiannual interest. Sept. 1 Sold $250,000 of the bonds at 97, plus accrued interest of $1,875. If an amount box does not require an entry, leave it blank.

Journalize the entries to record the following selected bond investment transactions for Southwest Bank: Apr. 1 Purchased $400,000 of Daytona Beach 4.5% bonds at 100 plus accrued interest of $4,500. July 1 Received the first semiannual interest. Sept. 1 Sold $250,000 of the bonds at 97, plus accrued interest of $1,875. If an amount box does not require an entry, leave it blank.

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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