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Fill in the income statement below The following Vermillion Corporation transactions are for bonds that were purchased as a held for trading investment for the
Fill in the income statement below
The following Vermillion Corporation transactions are for bonds that were purchased as a held for trading investment for the year ended December 31, 2018:
Feb. | 1 | Purchased $224,000 of Leslye Corporation 3% bonds at 104 (this means 104% of maturity value). Interest is received semi-annually on August 1 and February 1. The bonds mature on February 1, 2020. | |
Aug. | 1 | Received interest on Leslye bonds. | |
2 | Sold $89,600 of the Leslye bonds at 101. | ||
Dec. | 31 | Accrued interest on the remaining bonds. | |
31 | The fair value of the remaining bonds was 100 on this date. |
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