Bocelli Co. purchased $117,000 of 9%, 20-year Sanz County bonds on May 11, 2016, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, 2016, Bocelli Co. sold $30,000 of the Sanz County bonds at 96 plus $225 accrued interest, less a $110 brokerage commission.