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Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $93,000 of 9%, 10-year Sanz County bonds on May 11 , Year
Entries for Investment in Bonds, Interest, and Sale of Bonds Bocelli Co. purchased $93,000 of 9%, 10-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 $36,000 of the Sanz County bonds at 101 plus $270 accrued interest less a $405 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 blanke a 360-day year. b. Provide the journal entry for the semiannual interest on October 1. Year 1 Oct. 1 c. Pro d. Provide the adjusting entry for accrued interest of $855 on December 31 , Year 1 . Year 1 Dec. 31
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