22 On April 1, 2021, Kingbird, Inc purchased $672,000 of 6 bonds for $698,505 plus accrued interest as an available for sale security Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2026 (a) Your answer has been saved See score details after the due date Prepare the journal entry on April 1, 2021 (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts ) Date Account Titles and Explanation Debit Credit Apr 1, 2021 Attempts 1 of 1 used (b) The bonds are sold on November 1, 2022 at 103 plus accrued interest Amortization was recorded when interest was received by the straight line method Prepare all entries required to properly record the sale (Credit account titles are automatically indented when amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts Round answers to 0 decimal places, e g 5,275 )

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22. On April 1, 2021, Kingbird, Inc. purchased $672,000 of 6% bonds for $698,505 plus accrued interest as an available-for-sale security. Interest is paid on

22. On April 1, 2021, Kingbird, Inc. purchased $672,000 of 6% bonds for $698,505 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2026.

(a)

Your answer has been saved. See score details after the due date.

Prepare the journal entry on April 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Apr. 1, 2021

Attempts: 1 of 1 used

(b)

The bonds are sold on November 1, 2022 at 103 plus accrued interest. Amortization was recorded when interest was received by the straight-line method. Prepare all entries required to properly record the sale. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 5,275.)