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4) Ex 2 Floren Corporation had the following transactions pertaining to temporary debt investments. Journalize the following transactions. 1) On January 1, 20X1, purchased
4) Ex 2 Floren Corporation had the following transactions pertaining to temporary debt investments. Journalize the following transactions. 1) On January 1, 20X1, purchased 50 of the 8%, $1,000 Choate Co. bonds for $50,000 cash, at 100 (%) plus brokerage fees of $900. Interest is payable semiannually on July 1 and January 1. Date Account Name Debit 2) July 1, 20X1 received the semiannual interest from Choate Co. on the bonds. Date Account Name Credit Debit Credit 3) December 31, 20X1, journalize the Adjusting Entry needed for the accrued interest on the bonds. Date Account Name Debit 4) January 1, 20X2 received the semiannual interest from Choate Co. on the bonds. Date: Account Name: Credit Debit Credit 5) July 1, 20X2 sold 30 of the Choate Co. bonds for at 110 (%) less $500 brokerage fee. (The interest had already been received) Date Account Name: Debit Credit
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