Chopin Corporation had these transactions pertaining to debt investments: Jan. 1 Purchased 90 10%, $1,000 Martine Co.

Question:

Chopin had these transactions pertaining to debt investments:
Jan. 1 Purchased 90 10%, $1,000 Martine Co. bonds for $90,000 cash. Interest is payable semiannually on July 1 and January 1.
July 1 Received semiannual interest on Martine Co. bonds. July
1 Sold 30 Martine Co. bonds for $32,000
Instructions
(a) Journalize the transactions.
(b) Prepare the adjusting entry for the accrual of interest at December 31
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...