Bond Investment Journal Entries The following transactions and adjustments relate to bond investments acquired by Jeff Corporation: Previous Year June 30 - Purchased $100,000 face value of Alamo, Inc.'s 20-year, 7 percent bonds dated June 30, 2019, for $97,200 cash. Interest is paid December 31 and June 30. The investment is classified as an available-for-sale security. Dec. 31-Received the semiannual interest payment from Alamo and amortized the bond discount (straight-line method). Dec. 31 - Purchased $300,000 face value of Lyme, Inc.'s 10-year, 8 percent bonds dated December 31, 2019, for $304,000 cash. Interest is paid June 30 and December 31. The investment is classified as a held-to-maturity security. Dec. 31 - Made an adjusting entry to record the current fair value of the Alamo bonds. At December 31, the market value was $96,400. Current Year June 30 - Received the semiannual interest payment from Alamo and amortized the bond discount. June 30- Received the semiannual interest payment from Lyme and amortized the bond premium (straight-line method). July 01 - Sold the Alamo bonds for $96,500 Oct. 31 - Purchased $80,000 face value of Weir, Inc.'s 5-year, 7.5 percent bonds dated October 31, 2020, for $79,000. Interest is paid April 30 and October 31. The investment is classified as a trading security. Dec. 31 Received the semiannual interest payment from Lyme and amortized the bond premium. Dec. 31 - Made an adjusting entry to record interest earned on investment in the Weir bonds. Dec. 31 - Made an adjusting entry to record the current fair value of Weir bonds. At December 31, the market value of the bonds was $79,900. Dec. 31 Made an adjusting entry to eliminate balances in the Fair Value Adjustment to Bond Investment account and the Unrealized Gain/Loss on Investments (Equity) account. Prepare the journal entries to record these transactions and adjustments. Prior Year Journal Entries Current Year Journal Entries

Bond Investment journal Entries The following transacpons and odjustments relate to bond invostments acquired by jeff Corpariation Previous Year: June 30. The invetiment is classified as an availablefor-salesecurity December 31 . The thwetment is dassified as a fied to-maturity security. Current Year fune 30 - Received the sernianasi interest payment from Alamo and amortzed the bond discount. July 01 - Sold the Acrino borids for $96,500 The investment is classified as a trading security. Dec. 31 - Received the semlannat interest payment from tyme and amortaed the bond pcemmim. Dec-31 - Made an adjusting entry to record interest earned on imvestment in the Weir bonds. investments iEquity account. Prepare the journal entries ro record these transactions and adustrinents Cititent Yeacloumal forties Prior Year Journal Entries Current Year Journal Entries