Bond investment transactions OBJ. 2 Journalize the entries to record the following selected bond investment transactions for Starks Products:

a. Purchased for cash $120,000 of Iceline, Inc. 5% bonds at 100 plus accrued interest of

$1,000.

b. Received first semiannual interest payment.

c. Sold $60,000 of the bonds at 101 plus accrued interest of $500.