Entries for bond (held-to-maturity) investments

The following bond investment transactions were completed by Starks Company:

Jan. 31 Purchased 48, $1,000 government bonds at 100 plus accrued interest of $240 (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 18, $1,000 bonds at 97 plus $180 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 __________ __________ __________

__________ __________ __________

__________ __________ __________

July 1 __________ __________ __________

__________ __________ __________

__________ __________ __________

Aug 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. __________ __________ __________

__________ __________ __________

c. Journalize the receipt of $30,000 at the bonds maturity on July 1. If an amount box does not require an entry, leave it blank.

July 1 . __________ __________ __________

__________ __________ __________