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Bond (Held-to-Maturity)Investment Journalize the entries to record the following selected bond investment transactions for Marr Products: If an amount box does not require an
Bond (Held-to-Maturity)Investment Journalize the entries to record the following selected bond investment transactions for Marr Products: If an amount box does not require an entry, leave it blank. a. Purchased for cash $90,000 of Hotline Inc. 9% bonds at 100 plus accrued interest of $1,350. Investments-Hotline Inc. Bonds Interest Receivable Cash 90,000 1,350 91,350 b. Received first semiannual interest payment. Cash Interest Receivable Interest Revenue 4,050 1,350 2,700 c. Sold $60,000 of the bonds at 102 plus accrued interest of $460. Cash Interest Revenue Gain on Sale of Investments Investments-Hotline Inc. Bonds 61,200 X d. Received face value of remaining bonds at their maturity. X 1,200 60.000
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