The following held-to-maturity investment transactions were completed during 2015 by Torrence Inc.:
Jan. 21. Purchased 30 $1,000 par value Government of Canada bonds at 100 plus 20 days' accrued interest. The bonds pay 6% annual interest on June 30 and January 1.
Jun. 30. Received semiannual interest on bond investment.
Sep. 5. Sold 12, $1,000 par value bonds at 98 plus 67 days' accrued interest.
a. Journalize the entries for these transactions.
b. Provide the December 31, 2015, adjusting journal entry for semiannual interest earned from the bond coupon.