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(11) Float Corporation had the following transactions pertaining to debt investments. Jan. 1 Purchased 100 8%, $1,000 Qaiz Co. bonds for $100,000 cash plus brokerage

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(11) Float Corporation had the following transactions pertaining to debt investments. Jan. 1 Purchased 100 8%, $1,000 Qaiz Co. bonds for $100,000 cash plus brokerage fees of $1,800. Interest is payable semiannually on July 1 and January 1. July 1 Received semiannual interest on Glaz Co, bonds. July 1 Sold 60 Qaiz Co. bonds for $68,000 less $1,000 brokerage fees. Required: a) Journalize the transactions. (2 marks) b) Prepare the adjusting entry for the accrual of Interest at December 31. (0.5 Mark) Prepare a statement of cash flows for 2021using the indirect method. Additional information: (1). Net income for 2021 was $103,000. (2). Depreciation expense was $32,000. 13). Cash dividends of $45,000 were declared and paid. 14). Bonds payable amounting to $50,000 were redeemed for cash $50,000. 5). Common stock was issued for $42,000 cash. 6). No equipment was sold during 2021. 7). Land was sold for its book value of $27,000. Here are comparative balance sheets for Saleh Company

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