Question
Entries for bond (held-to-maturity) investments Demopoulos Company acquired $164,400 of Marimar Co., 8% bonds on May 1 at their face amount. Interest is paid semiannually
Entries for bond (held-to-maturity) investments
Demopoulos Company acquired $164,400 of Marimar Co., 8% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $57,000 of the bonds for 95.
Journalize the entries to record the following:
If an amount box does not require an entry, leave it blank.
a. The initial acquisition of the bonds on May 1.
May 1 | fill in the blank a163d3097fe0001_2 | fill in the blank a163d3097fe0001_3 | |
fill in the blank a163d3097fe0001_5 | fill in the blank a163d3097fe0001_6 |
b. The semiannual interest received on November 1.
Nov. 1 | fill in the blank 7a995f082012014_2 | fill in the blank 7a995f082012014_3 | |
fill in the blank 7a995f082012014_5 | fill in the blank 7a995f082012014_6 |
c. The sale of the bonds on November 1.
Nov. 1 | fill in the blank f43fedf38038038_2 | fill in the blank f43fedf38038038_3 | |
fill in the blank f43fedf38038038_5 | fill in the blank f43fedf38038038_6 | ||
fill in the blank f43fedf38038038_8 | fill in the blank f43fedf38038038_9 |
d. The accrual of $1,432 interest on December 31.
Dec. 31 | fill in the blank e0023a024fc0055_2 | fill in the blank e0023a024fc0055_3 | |
fill in the blank e0023a024fc0055_5 | fill in the blank e0023a024fc0055_6 |
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