ents Gillooly Co. purchased $432,000 of 6%, 20-year Lumpkin County bonds as a held-to-maturity investment on...

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ents Gillooly Co. purchased $432,000 of 6%, 20-year Lumpkin County bonds as a held-to-maturity investment 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, Gillooly Co. sold $108,000 of the Lumpkin County bonds at 99 plus $540 accrued interest. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar. a. The purchase of the bonds on May 11 plus 40 days of accrued interest. Year 1 May 11 b. Semiannual interest on October 1. Year 1 Oct. 1 c. Sale of the bonds on October 31. Year 1 Oct. 31 BE d. Adjusting entry for accrued interest on December 31, Year 1. In computing the accrued interest, use the number of days divided by 360. Year 1 Dec. 31 e. The receipt of the face value of the remaining bonds at their maturity on April 1, Year 20. Previous Novt ents Gillooly Co. purchased $432,000 of 6%, 20-year Lumpkin County bonds as a held-to-maturity investment 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, Gillooly Co. sold $108,000 of the Lumpkin County bonds at 99 plus $540 accrued interest. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar. a. The purchase of the bonds on May 11 plus 40 days of accrued interest. Year 1 May 11 b. Semiannual interest on October 1. Year 1 Oct. 1 c. Sale of the bonds on October 31. Year 1 Oct. 31 BE d. Adjusting entry for accrued interest on December 31, Year 1. In computing the accrued interest, use the number of days divided by 360. Year 1 Dec. 31 e. The receipt of the face value of the remaining bonds at their maturity on April 1, Year 20. Previous Novt