Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $36,000 of 7%, 12-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 $12,000 of the Sanz County bonds at 103 plus $70 accrued interest less a $410 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 36,000 Interest Receivable 497 Cash 36,497 Feedback b. Provide the journal entry for the semiannual interest on October 1. Year 1 Oct. 1 Cash Interest Receivable 110 Interest Revenue c. Provide the journal entry for the sale of the bonds on October 31. Year 1 Oct. 31 Cash Loss on Sale of Investments 1111 1111 Interest Revenue Investments-Sanz County Bonds Feedback d. Provide the adjusting entry for accrued interest of $280 on December 31, Year 1. Year 1 Dec. 31 Interest Receivable Interest Revenue Entries for Investment in Stock, Receipt of Dividends, and sale of Shares On February 22, Stewart Corporation acquired 4,500 shares of the 160,000 outstanding shares of Edwards Co. common stock at $39.90 plus commission charges of $450. On June 1, a cash dividend of $0.70 per share was received. On November 12, 1,500 shares were sold at $48 less commission charges of $180. In your computations, round per share amounts to two decimal places. When required, round final answers to the nearest dollar. a. Using the cost method, journalize the entry for the purchase of stock. Feb. 22 b. Using the cost method, journalize the entry for the receipt of dividends. June 1 c. Using the cost method, journalize the entry for the sale of 1,500 shares. For a compound transaction, if an amount box does not require an entry, leave it blank. Nov. 12