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Entries for tifvestments in Bonds, Interest, and Sale of Bonds Forres Investments acquired $230,800 of Murphy Corp., 7 , bonds at their tace amount on
Entries for tifvestments in Bonds, Interest, and Sale of Bonds Forres Investments acquired $230,800 of Murphy Corp., 7 , bonds at their tace amount on October 1, Year 1, The bonds pay interest on October 1 and April 1. On Apni 1 Year 2, Torres sold $96,800 of Murphy Corp, bonds at 102. Journalize the entries to record the following: 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. a. The initial acquisition of the Murphy Corp. bonds on October 1, Year 1. Year 1, Oct. 1 b. The adjusting entry for three Inonths of accrued interest earned on the Murphy Corp, bonds on December 31 , Year 1 . Year 1, Dec, 31 c. The receipt of semiannual interest on April 1, Year 2. Year 2, Apt: I d. The sale of 595,800 of Murphy Corp, bonds on Apnil 1, Year 2, at 102. Year 2, Ape 1 Torres Imvestments acquired $230,800 of Murphy Corp, 7% bonds at their face amount on October 1, Year 1. The bonds poy interest on October 1 and April 1 . On Apnil Year 2, Torres sold $96,800 of Murphy Corp, bonds at 102 . Youmallae the entries to record the following: Do not round interim calculations. gound final answers to nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. a. The initial acquisition of the Murphy Corp. bonds on October 1 , Year 1. Year 1, Oct. 1 b. The adjusting entry for three months of accrued interest earned on the Murpby Corp, bonds on December 31 , Year 1. vear 1, Dec. 31 c. The receipt of semiannual interest on Apeil 1, Year 2. Year Z, Ape: 1 d. The sale of $96,800 of Murphy Corp. bonds on Aprol 1, Year 2, at 102. rear 2, Apr, 1
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