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help urgent!! Outer Mile & Co. own vast around of corporate bonds Suppose Outer Mle buys $400,000 of Axe bonds at face vale on January
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Outer Mile & Co. own vast around of corporate bonds Suppose Outer Mle buys $400,000 of Axe bonds at face vale on January 2 2024. The Accobonda pay were the annual rate of 7% on June 30 and December 1 and mature on December 31, 2043 Outer Mentends to hold the investment Requirements 1. Joumalize any required 2024 entries for the bond investment 2. How much chest wil Outer Mohar from AC? 3. How much hinter en wil Outer Mis report during 2014 and investment Requirement 1. Joumaise anymoures 2024 entries for the bord Record debts fout, then credits Select the content on the tre of the land in Begin by using Outer Mie's investment anuary 2, 2024 Data Account and Explanation Deba Credit 3004 Aalton Bale Denemente Cath Pwchod resten Donde Nedoumaine the receipt of cash interest on June 30, 2004 Date Accounts and Explanation Debit Credit 2024 Jun 30 Cash trust Revenge Received cash interest Nowjom the recent of cash interest on December 31, 2024 wave Accounts and explanation Lepit Creart 2024 Jun 30 Cash Interest Revenue Received cash interest Now journalize the receipt of cash interest on December 31, 2024. Date Accounts and Explanation Debit Credit 2024 Dec. 31 Cash Interest Revenue Received cash interest. Requirement 2. How much cash interest will Outer Mile receive each year from AzCo? Cash interest Outer Mile will receive each year from AzCo = Requirement 3. How much interest revenue will Outer Mile report during 2024 on this bond investment? Interest revenue Outer Mile will report during 2024 on this bond investment quirement 1. Journalize any required 2024 entries for the bond investment. (RE gin by journalizing Outer Mile's investment on January 2, 2024. Date Accounts and Explanation 2024 Jan. 2 Available-for-Sale Debt Investments Available-for-Sale Debt Investments Cash Dividend Revenue Next, journalize Equity Investment Date 2024 Fair Value Adjustment-Available-for-Sale Jun. 30 Fair Value Adjustment-Held-to-Maturity Fair Value AdjustmentTrading Held-to-Maturity Debt Investments Interest Revenue Now journalize Trading Debt Investments Unrealized Holding Gain-Available-for-Sale Inrealized Holdinn Gain-Held-to-Maturity 1. Journalize any required 2024 entries for the bond investment. (Record alizing Outer Mile's investment on January 2, 2024. Accounts and Explanation Deb Available for Sale Debt Investments Cash Purchased investment in bonds lize Debit Disposed of bond at maturity. Purchased investment in bonds. Received cash interest Received cash interest ale the receipt of cash interest on December 31, 2024 C $ 4 2 3 TA Step by Step Solution
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