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Hello someone please help me with this problem, I have gotten half of it right, I need it withnin the next 20 minutes, please attach
Hello someone please help me with this problem, I have gotten half of it right, I need it withnin the next 20 minutes, please attach a word doc and show me your work so I know how you got to the solution. thank you
xercise 12-2 Your answer is partially correct. Try again. Jenek Corporation had the following transactions pertaining to debt investments. 1 . 2 . 3 . 4 . Purchased 40 9%, $1,200 Leeds Co. bonds for $48,000 cash on January 1, 2017. Interest is payable annually on January 1. Accrued interest on Leeds Co. bonds on December 31, 2017. Received interest on Leeds Co. bonds on January 1, 2018. Sold 24 Leeds Co. bonds for $31,680 on January 1, 2018. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation 48,000 Debt Investments 48,000 Cash Interest Receivab Debit 43,200 Interest Revenue Cash Interest Receivab (To record interest received) 43,200 43,200 43,200 Credi t Cash Loss on Sale of D Debt Investments (To record sale of bonds) 31,680 2,880 28,800Step by Step Solution
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