Debt Investment Transactions, Available-for-Sale Valuation

Dollar Mart Inc. is a general merchandise retail company that began operations on January 1, 2014. The following transactions relate to debt investments acquired by Dollar Mart Inc., which has a fiscal year ending on December 31:

2014
May 1	Purchased $72,000 of Elkin City 5%, 10-year bonds at their face amount plus accrued interest of $600. The bonds pay interest semiannually on March 1 and September 1.
June 16	Purchased $112,000 of Morgan Co. 6%, 12-year bonds at their face amount plus accrued interest of $280. The bonds pay interest semiannually on June 1 and December 1.
Sep. 1	Received semiannual interest on the Elkin City bonds.
Oct. 1	Sold $28,800 of Elkin City bonds at 104 plus accrued interest of $120.
Dec. 1	Received semiannual interest on Morgan Co. bonds.
Dec. 31	Accrued $720 interest on Elkin City bonds.
Dec. 31	Accrued $560 interest on Morgan Co. bonds.
2015
Mar. 1	Received semiannual interest on the Elkin City bonds.
June 1	Received semiannual interest on the Morgan Co. bonds.

Required:

Journalize the entries to record these transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.

Date	Amount	Debit	Credit
2014
May 1	SelectBonds PayableCashInterest RevenueInvestments-Elkin City BondsNotes ReceivableItem 1
	SelectCashDividend RevenueInterest ReceivableInterest RevenueNotes ReceivableItem 4
	SelectBonds PayableCashInterest ReceivableInvestments-Elkin City BondsNotes ReceivableItem 7
June 16	SelectBonds PayableCashInterest RevenueInvestments-Morgan Co. BondsNotes ReceivableItem 10
	SelectCashInterest PayableInterest ReceivableInterest RevenueNotes ReceivableItem 13
	SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsItem 16
Sep. 1	SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Elkin City BondsItem 19
	SelectCashInterest PayableInterest ReceivableInvestments-Elkin City BondsNotes ReceivableItem 22
	SelectBonds PayableCashDividend RevenueInterest RevenueInvestments-Elkin City BondsItem 25
Oct. 1	SelectCashGain on Sale of InvestmentInterest PayableInvestments-Elkin City BondsRetained EarningsItem 28
	SelectBonds PayableInterest RevenueLoss on Sale of InvestmentNotes ReceivableRetained EarningsItem 31
	SelectCashDividend RevenueGain on Sale of InvestmentInterest ReceivableLoss on Sale of InvestmentItem 34
	SelectCashDividend RevenueInvestments-Elkin City BondsLoss on Sale of InvestmentNotes ReceivableItem 37
Dec. 1	SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsItem 40
	SelectCashInterest PayableInterest ReceivableInvestments-Morgan Co. BondsNotes ReceivableItem 43
	SelectBonds PayableCashDividend RevenueInterest RevenueInvestments-Morgan Co. BondsItem 46
Dec. 31 Elkin City	SelectCashInterest ReceivableInterest RevenueInvestments-Elkin City BondsNotes ReceivableItem 49
	SelectCashDividend RevenueInterest RevenueInvestments-Elkin City BondsNotes ReceivableItem 51
Dec. 31 Morgan Co.	SelectCashInterest ExpenseInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsItem 53
	SelectCashInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsNotes ReceivableItem 55
2015
Mar. 1	SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Elkin City BondsItem 57
	SelectCashInterest PayableInterest ReceivableInvestments-Elkin City BondsNotes ReceivableItem 60
	SelectBonds PayableCashDividend RevenueInterest RevenueInvestments-Elkin City BondsItem 63
June 1	SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsItem 66
	SelectCashInterest PayableInterest ReceivableInvestments-Morgan Co. BondsNotes ReceivableItem 69
	SelectBonds PayableCashDividend RevenueInterest RevenueInvestments-Morgan Co. BondsItem 72