Question
Entries for bond (held-to-maturity) investments The following bond investment transactions were completed by Starks Company: Jan. 31 Purchased 39, $1,000 government bonds at 100 plus
Entries for bond (held-to-maturity) investments The following bond investment transactions were completed by Starks Company: Jan. 31 Purchased 39, $1,000 government bonds at 100 plus accrued interest of $195 (1 month). The bonds pay 6% annual interest on July 1 and January 1. July 1 Received semiannual interest on bond investment. Aug. 30 Sold 15, $1,000 bonds at 96 plus $150 accrued interest (2 months). a. Journalize the entries for these transactions. Assume a 360-day year. Do not round interim calculations. Round final answers to nearest dollar. If an amount box does not require an entry, leave it blank. Jan. 31 fill in the blank c4c490f9a04c040_2 fill in the blank c4c490f9a04c040_3 fill in the blank c4c490f9a04c040_5 fill in the blank c4c490f9a04c040_6 fill in the blank c4c490f9a04c040_8 fill in the blank c4c490f9a04c040_9 July 1 fill in the blank c4c490f9a04c040_11 fill in the blank c4c490f9a04c040_12 fill in the blank c4c490f9a04c040_14 fill in the blank c4c490f9a04c040_15 fill in the blank c4c490f9a04c040_17 fill in the blank c4c490f9a04c040_18 Aug. 30 fill in the blank c4c490f9a04c040_20 fill in the blank c4c490f9a04c040_21 fill in the blank c4c490f9a04c040_23 fill in the blank c4c490f9a04c040_24 fill in the blank c4c490f9a04c040_26 fill in the blank c4c490f9a04c040_27 fill in the blank c4c490f9a04c040_29 fill in the blank c4c490f9a04c040_30 b. Journalize the December 31 adjusting entry for semiannual interest earned on the bonds. Assume a 360-day year. Do not round interim calculations. Round final answers to nearest dollar. If an amount box does not require an entry, leave it blank. Dec. 31 fill in the blank c2fe35f1e03a020_2 fill in the blank c2fe35f1e03a020_3 fill in the blank c2fe35f1e03a020_5 fill in the blank c2fe35f1e03a020_6 c. Journalize the receipt of $24,000 at the bonds maturity on July 1. If an amount box does not require an entry, leave it blank. July. 1 fill in the blank db1927015f84027_2 fill in the blank db1927015f84027_3 fill in the blank db1927015f84027_5 fill in the blank db1927015f84027_6
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