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Current Attempt in Progress On August 1, 2021. Grouper Corporation, a public company, purchased $105,600 of Alaska Ltd. five-year, 7% bonds at par. The bonds
Current Attempt in Progress On August 1, 2021. Grouper Corporation, a public company, purchased $105,600 of Alaska Ltd. five-year, 7% bonds at par. The bonds were purchased for trading purposes and pay interest semi-annually on January 31 and July 31 of each year. On December 31.2021. Grouper's year end the bonds" fair value was $107,060. The bonds were sold on February 1 2022. for $108.120. Record the purchase of the bonds on August 1, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Aug. 1 To record purchase of investment Vio e Textbook and Media Cath (To record purchase of investment.) e Textbook and Media Your answer parally correct Record any adjusting journal entries that are required at December 31, 2021. (Credit account titles one automatically indented when the amount hentered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answer to decimal places. 5.276) Date Account Titles and Explanation Debit Credit Dec 31 100 Date Account Titles and Explanation Debit Credit Dec. 31 Interest Receivable 3,080 Interest Revenue 3,080 (To accrue interest revenue.) Dec. 31 Investment in Associate Investment income or Loss v (To record fair value adjustment.) GROUPER CORPORATION Balance Sheet (Partial) December 31, 2021 31, 202 Assets Current Assets Investments at Fair value throueh Other Comorehensive Income S 107.060 Record the receipt of the first interest payment on January 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answer to decimal places, es 5.276.) Date Account Titles and Explanation Debit Credit Jan. 31 (Collection of interest receivable
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