Required information APA-2 (Algo) Recording Passive Investments LO A-1 [The following information applies to the questions displayed below] On October 1, 20X1, Hill-Nielsen purchased at par $170,500, 4 percent, bonds of Community Communications Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Hill-Nielson Corporation's year ends on December 31. The following information applies to the fair value of Community Communications' bonds: Bond Price $173,400 168,300 165,200 Hill-Nielson sold the bonds on March 17, 20X4, for $164,050 12/31/20x1 12/31/20X2 12/31/2003 APA-2 Part 1 Required: 1. Prepare the entry to record interest received on December 31, 20-1. uent select "No journal entry required" in the first account field.
Required information APA-2 (Algo) Recording Passive Investments LO A-1 [The following information applies to the questions displayed below] On October 1, 20X1, Hill-Nielsen purchased at par $170,500, 4 percent, bonds of Community Communications Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Hill-Nielson Corporation's year ends on December 31. The following information applies to the fair value of Community Communications' bonds: Bond Price $173,400 168,300 165,200 Hill-Nielson sold the bonds on March 17, 20X4, for $164,050 12/31/20x1 12/31/20X2 12/31/2003 APA-2 Part 1 Required: 1. Prepare the entry to record interest received on December 31, 20-1. uent select "No journal entry required" in the first account field.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Subject : Accounting
![Required information
APA-2 (Algo) Recording Passive Investments LO A-1
[The following information applies to the questions displayed below.]
On October 1, 20X1, Hill-Nielsen purchased at par $170,500, 4 percent, bonds of Community Communications Company.
The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Hill-Nielson Corporation's year
ends on December 31. The following information applies to the fair value of Community Communications' bonds:
Bond Price
$173,400
168,300
165,200 4
Hill-Nielson sold the bonds on March 17, 20X4, for $164,050.
12/31/20x1
12/31/20X2
12/31/20x3
APA-2 Part 1
Required:
1. Prepare the entry to record interest received on December 31, 20x1.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8fc66754-dc05-453a-a4c8-c79196bcb5d1%2F4ece4d7c-2d6f-4267-a693-62c0fb4a6c50%2Fxl0ez2_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
APA-2 (Algo) Recording Passive Investments LO A-1
[The following information applies to the questions displayed below.]
On October 1, 20X1, Hill-Nielsen purchased at par $170,500, 4 percent, bonds of Community Communications Company.
The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. Hill-Nielson Corporation's year
ends on December 31. The following information applies to the fair value of Community Communications' bonds:
Bond Price
$173,400
168,300
165,200 4
Hill-Nielson sold the bonds on March 17, 20X4, for $164,050.
12/31/20x1
12/31/20X2
12/31/20x3
APA-2 Part 1
Required:
1. Prepare the entry to record interest received on December 31, 20x1.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
![Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
<
1
Record the interest received on December 31, 20x1.
Note: Enter debits before credits.
Date:
December 31, 20x1
General Journal
Debit
Credit
>](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8fc66754-dc05-453a-a4c8-c79196bcb5d1%2F4ece4d7c-2d6f-4267-a693-62c0fb4a6c50%2Fgg7wh4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.
View transaction list
Journal entry worksheet
<
1
Record the interest received on December 31, 20x1.
Note: Enter debits before credits.
Date:
December 31, 20x1
General Journal
Debit
Credit
>
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