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A corporation purchases $100,000 of bonds at 100. They sell the bonds at 104.5, plus $500 in accrued interest. The journal entry to record the
A corporation purchases $100,000 of bonds at 100. They sell the bonds at 104.5, plus $500 in accrued interest. The journal entry to record the sale of the bonds is Cash $104,500 Interest Receivable, $500 Investment-Bonds $100,000 Gain on Sale of Investments $4,500 Interest Revenue, $500 Cash $105,000 InvestmentCompany Bonds, $104,500 Interest Revenue, $500 O Cash, $105,000 InvestmentCompany Bonds $100,000 Gain on Sale of Investments, $5,000 O Cash, $105,000 Investment-Bonds, $100,000 Gain on Sale of Investments $4,500 Interest Revenue, $500
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