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Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $39,000 of 8%, 15 year Sanz County bonds on May 11, Year

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Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $39,000 of 8%, 15 year Sanz 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, Bocelli Co. sold $18,000 of the San County bonds at 101 plus $120 accrued interest less a $200 brokerage commission Do not round interim calculations. Round final answers to nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. Assume a 360 day year. a. Provide the journal entry for the purchase of the bonds on May 11 plus 72 days of accrued interest. Year 1 May 11 Investments Sanz County Bonds Interest Receivable 99 Cash Feedback b. Provide the journal entry for the semiannual interest on October 1 Year 1 Oct. 1 Cash Interest Receivable Interest Revenue Footud C. Provide the journal entry for the sale of the bonds on October 31 Year 1 Oct 31 Cash v Provide the journal entry for the sale of the bonds on October 31. Year 1 Oct. 31 Cash Loss on Sale of Investments Interest Revenue 1110 1100 Investments Sanz County Bonds d. Provide the adjusting entry for accrued interest of $280 on December 31, Year 1. Year 1 Dec. 31 Interest Receivable Interest Revenue Feedback Feedback

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