On August 1, 2025, Oriole Company acquired 1230, $1000, 8% bonds at 98 plus accrued interest. The bonds were dated and mature on April 30, 2030, with interest paid each October 31 and April 30. The bonds will be added to Oriole's available-for-sale portfolio. The entry to record the purchase of the bonds on August 1, 2025 is Debt Investments Interest Receivable Cash Debt Investments Interest Revenue Cash Debt Investments 1205400 Debt Investments 24600 1205400 Interest Revenue Discount on Debt Investments Cash 24600 1230000 24600 1230000 1230000 1230000 24600 1230000 1030000
On August 1, 2025, Oriole Company acquired 1230, $1000, 8% bonds at 98 plus accrued interest. The bonds were dated and mature on April 30, 2030, with interest paid each October 31 and April 30. The bonds will be added to Oriole's available-for-sale portfolio. The entry to record the purchase of the bonds on August 1, 2025 is Debt Investments Interest Receivable Cash Debt Investments Interest Revenue Cash Debt Investments 1205400 Debt Investments 24600 1205400 Interest Revenue Discount on Debt Investments Cash 24600 1230000 24600 1230000 1230000 1230000 24600 1230000 1030000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me with show all calculation thanku

Transcribed Image Text:On August 1, 2025, Oriole Company acquired 1230, $1000, 8% bonds at 98 plus accrued interest. The bonds were dated May 1, 2025,
and mature on April 30, 2030, with interest paid each October 31 and April 30. The bonds will be added to Oriole's available-for-sale
portfolio. The entry to record the purchase of the bonds on August 1, 2025 is
Debt Investments
Interest Receivable
Cash
Debt Investments
Interest Revenue
Cash
1205400
24600
Debt Investments.
Cash
1205400
24600
Debt Investments
Interest Revenue
Discount on Debt Investments
Cash
1230000
24600
1230000
1230000
1230000
24600
1230000
1230000
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