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Assignment Gradebook ORION Problem 17B-7 The following information relates to the debt secunities investments of Coronado Company. 1. On February 1, the company purchased 12%
Assignment Gradebook ORION Problem 17B-7 The following information relates to the debt secunities investments of Coronado Company. 1. On February 1, the company purchased 12% bonds of Gibbons Co. having a par value of $315,600 at 100 plus accrued rterest. Interest is payable April 1 and October 1. 2. On April 1, semiannual interest is received. 3. on July 1, 9% bonds of Sampson Inc were puchased. These bonds with a par value of $212,400 were puchased at 100 plus accrued interest. Interest dates are June 1 and December 1. 4. On September 1, bonds with a par value of $55,200, purchased on February 1, are sold at 99 plus accrued interest 5. On October 1, semiannual interest is received. 6. On December 1, semiannual interest is received 7. On December 31, the fair value of the bonds purchased February 1 and July 1 are 95 and 93, respectively (a) Prepare any journal entries you consider necessary, inchuding year end entries (December 31), assuming these are available-for sale securities, (Credit account titles ane autommatically im for the ansoints amount is entered. Do not indent nsanually. IFno entry is requiredl, select "No Entry for the account tites and enter No. Date Account Titles and Explanation (1) Feb. 1 Delbit Credit (3) Jul. 1
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