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Exercise 6 (25 Points) Noler Corporation had the following transactions pertaining to debt and stock investment transactions during calendar year 2020. Jan 1 Purchased 40,

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Exercise 6 (25 Points) Noler Corporation had the following transactions pertaining to debt and stock investment transactions during calendar year 2020. Jan 1 Purchased 40, 10%, $1,000 Whitmore Company bonds for $40,000. The bonds pay interes semi-annually on Jan 1 and July 1. Mar 1 Purchased 800 shares of Lawton Company stock for $9,440. July 1 Received semi-annual interest on the Whitmore Company bonds. July 1 Sold 20 Whitmore Company bonds for $19,000. July 15 Received cash dividends of $0.40 per share on the Lawton Company stock. Oct 10 Sold 400 shares of the Lawton Company stock for $5,900 Cash. Accrue the semi-annual interest on the Whitmore Company bonds. Dec 31 Lawton Company declared a $.40 per share dividend payable Jan 15, 2021 Instructions: Prepare journal entries for the above transactions. (You may omit explanations) Dec 31 Date Title and Explanation Debit Credit

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