1. Entries for bond (held-to-maturity) investments

   Gillooly Co. purchased $63,000 of 9%, 15-year Lumpkin County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Gillooly Co. sold $24,000 of the Lumpkin County bonds at 101 plus $180 accrued interest less a $275 brokerage commission.

   Journalize the entries to record the following: Do not round interim calculations. Round final answers to nearest dollar. If an amount box does not require an entry, leave it blank. Assume a 360-day year.

   a. The purchase of the bonds on May 11 plus 40 days of accrued interest.

   Year 1 May 11		fill in the blank f3dcd4060008fd6_2	fill in the blank f3dcd4060008fd6_3
   		fill in the blank f3dcd4060008fd6_5	fill in the blank f3dcd4060008fd6_6
   		fill in the blank f3dcd4060008fd6_8	fill in the blank f3dcd4060008fd6_9

   b. Semiannual interest on October 1.

   Year 1 Oct. 1		fill in the blank b2b5a808a022fc6_2	fill in the blank b2b5a808a022fc6_3
   		fill in the blank b2b5a808a022fc6_5	fill in the blank b2b5a808a022fc6_6
   		fill in the blank b2b5a808a022fc6_8	fill in the blank b2b5a808a022fc6_9

   c. Sale of the bonds on October 31.

   Year 1 Oct. 31		fill in the blank 45e96af51fdffa8_2	fill in the blank 45e96af51fdffa8_3
   		fill in the blank 45e96af51fdffa8_5	fill in the blank 45e96af51fdffa8_6
   		fill in the blank 45e96af51fdffa8_8	fill in the blank 45e96af51fdffa8_9
   		fill in the blank 45e96af51fdffa8_11	fill in the blank 45e96af51fdffa8_12

   d. Adjusting entry for accrued interest on December 31, Year 1.

   Year 1 Dec. 31		fill in the blank 461698083013046_2	fill in the blank 461698083013046_3
   		fill in the blank 461698083013046_5	fill in the blank 461698083013046_6

   e. The receipt of the face value of the remaining bonds at their maturity on April 1, Year 20.

   Year 20 Apr. 1		fill in the blank 16cfe501afad05d_2	fill in the blank 16cfe501afad05d_3
   		fill in the blank 16cfe501afad05d_5	fill in the blank 16cfe501afad05d_6

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