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Clinton Front Inc made the following bond investment during the year for the purpose of trading Assume Clinton uses the fair value through proft or
Clinton Front Inc made the following bond investment during the year for the purpose of trading Assume Clinton uses the fair value through proft or loss model and has a fiscal year end at March 31, 2022. Feb. 1.2022 Mar. 31. 2022 Purchased Arnprior Bonds at par for $29.000. Interest is paid semi-annually at a rate of 4% on February 1 and August 1 each year. The Arnprior Bonds were trading at 101. Collected interest on the Arnprior Bonds. Sold the Amprior Bonds for $29.580. Aug. 1.2022 Aug. 2, 2022 (a) Record the above transactions and any necessary adjusting entries for Clinton Front at its year end of March 31, 2022. (Round answers to decimal places, eg. 125. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry"for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit (To record interest) (To record unearlized gain/loss)
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