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Gonzalez Company acquired $147,600 of Walker Co., 5% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November

Gonzalez Company acquired $147,600 of Walker Co., 5% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $46,800 of the bonds for 96.

Journalize entries to record the following in Year 1:

For a compound transaction, if an amount box does not require an entry, leave it blank.

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a. The initial acquisition of the bonds on May 1. May 1 b. The semiannual interest received on November 1. Nov. 1 c. The sale of the bonds on November 1. Nov. 1 d. The accrual of $840 interest on December 31. Dec. 31

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