Floyd Corporation had the following transactions pertaining to debt investments.

Jan. 1		Purchased60Petal Co.8%, $1,300bonds for $78,000cash plus brokerage fees of $770. Interest is payable semiannually on July 1 and January 1.
July 1		Received semiannual interest on Petal Co. bonds.
July 1		Sold36Petal Co. bonds for $53,040less $460brokerage fees.

(a)		Journalize the transactions.
(b)		Prepare the adjusting entry for the accrual of interest at December 31.

(Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
(a)	Jan. 1
	July 1
	July 1
(b)	Dec. 31