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Exercise 1602 Blossom Corporation had the following transactions pertaining to debt investments 1 2 Purchased 40 8%, $2,000 Leeds Co. bonds for $80,000 cash. Interest
Exercise 1602 Blossom Corporation had the following transactions pertaining to debt investments 1 2 Purchased 40 8%, $2,000 Leeds Co. bonds for $80,000 cash. Interest is payable annually on January 1, 2020 Accrued interest on Leeds Co. hands on December 31, 2020. Received interest on Leeds Co. bonds on January 1, 2021 Sold 30 Leeds Co. bonds for $65,000 on January 1, 2021. 3. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 5,275.) No. Date Account Titles and Explanation Debit Credit 1. 2 3.
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