Entries for Investment in Bonds, Interest, and Sale of Bonds Sorrey Company acquired $75,000 of Clayton Co., 6% bonds on April 1, 2014, at their face amount. Interest is paid semiannually on April 1 and October 1. On October 1, 2014, Sorrey Company sold $25,000 of the bonds for 98. Journalize entries to record the following: For a compound transaction, if an amount box does not require an entry, leave it blank.

The initial acquisition of the bonds on April 1. The semiannual Interest received on October 1. The sale of the bonds on October 1. The accrual of $750 interest on December 31, 2014