Record the collection of the interest and the sale of the bonds. (List all debit entries before credit entries.
On January 1,2024 , Richetti Ltd. purchased $232,000 of 11%,10-year bonds at face value (100) with the intention of selling the bonds early the next year. Richetti receives interest semi-annually on July 1 and January 1. At December 31, 2024, which is the company's fiscal year end, the bonds were trading in the market at 98 . Assume that Richetti sold the bonds for $227,360 on January 2 , Record the collection of the interest and the sale of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) please give me the answer for this question accprding to the given space, i only have one space for debit and credit entry
Step by step
Solved in 3 steps
