Bond Investment Transactions

Journalize the entries to record the following selected bond investment transactions for Olson Products:

For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Purchased for cash $120,000 of Hart Industries 9% bonds at 100 plus accrued interest of $1,800.

b. Received first semiannual interest payment.

c. Sold $80,000 of the bonds at 102 plus accrued interest of $610.