Bond Investment Transactions

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

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

a. Purchased for cash $78,000 of Iceline, Inc. 9% bonds at 100 plus accrued interest of $1,170, paying interest semiannually.

b. Received first semiannual interest payment.

c. Sold $52,000 of the bonds at 102 plus accrued interest of $400.

a. Purchased for cash $78,000 of Iceline, Inc. 9% bonds at 100 plus accrued interest of $1,170, paying interest semiannually. Cash b. Received first semiannual interest payment. c. Sold $52,000 of the bonds at 102 plus accrued interest of $400. Accounts Receivable Bonds Payable Cash Interest Receivable Investments-Iceline, Inc. Bonds Loss on Sale of Investments