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5. Albright Company purchased as a long-term investment $500,000 o1 ben Corporation 10-year, 9% bonds. Present entries to record the following selected transactions Purchased bonds

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5. Albright Company purchased as a long-term investment $500,000 o1 ben Corporation 10-year, 9% bonds. Present entries to record the following selected transactions Purchased bonds at 93 for $465,000 Sold half the bonds at 98 plus accrued interest of $4,000. The broker deducted $200 for brokerage fees and taxes, remitting the balance. The bonds were carried at $479,000 at the time of the sale. (a) (b)

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