Date	Account Titles and Explanation	Debit	Credit
Aug. 31, 2019	enter an account title for the journal entry on August 31, 2019	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on August 31, 2019	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on August 31, 2019	enter a debit amount	enter a credit amount
choose a transaction date Aug. 31, 2019Nov. 1, 2019Dec. 31, 2019Jan. 15, 2020	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Aug. 31, 2019Nov. 1, 2019Dec. 31, 2019Jan. 15, 2020	enter an account title to accrue interest	enter a debit amount	enter a credit amount
	enter an account title to accrue interest	enter a debit amount	enter a debit amount
	enter an account title to accrue interest	enter a debit amount	enter a credit amount
	(To accrue interest)
choose a transaction date Aug. 31, 2019Nov. 1, 2019Dec. 31, 2019Jan. 15, 2020	enter an account title to record fair value adjustment	enter a debit amount	enter a credit amount
	enter an account title to record fair value adjustment	enter a debit amount	enter a debit amount
	(To record fair value adjustment)
Jan. 15, 2020	enter an account title for the journal entry on January 15, 2020	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 15, 2020	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 15, 2020	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 15, 2020	enter a debit amount	enter a credit amount
	enter an account title for the journal entry on January 15, 2020	enter a debit amount	enter a credit amount

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List of Accounts

Partially correct answer icon

Your answer is partially correct.

How many months was the bond held for by Bramble Corp. in 2019? Based on this, how much of the income reported on this bond should be for interest received?

Number of months			enter a Number of months		months
Interest received		$	enter Interest received in dollars

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Your answer is incorrect.

How much return did Bramble Corp. earn while the bond was held?

Overall return earned on bonds $enter a dollar amount

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Your answer is correct.

If this bond had been acquired to earn a return on excess funds, did the company meet its objective? select an option YesNo

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Bramble Corp. purchased a $100,000 face-value bond of Myers Corp. on August 31, 2019, for $104,440 plus accrued interest. The effective yield on the bond is 11.04%. The bond pays interest annually each November 1 at a rate of 12%. On November 1, 2019, Bramble Corp. received the annual interest. On December 31, 2019, Bramble's year end, the fair value for these bonds was 103.6. Bramble sold the bond on January 15, 2020, for $103,300 plus accrued interest. Assume Bramble Corp. follows IFRS. Your answer is partially correct. 1 Prepare the journal entries to record the purchase of the bond, the receipt of interest, any adjustments required at year end, and the subsequent sale of the bond. (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 O for the amounts. Compute accrued interest using 1/2 month. Round answers to O decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credi Aug. 31, 2019 Bond Investment at Amortized Cost 100,000 Interest Receivable 4440