Homework Problem

On June $29,2024$ the Forte Mutual Fund purchased $$200,000$ of $10-$year Marge Maturity $4\mathrm{.}5\%$ bonds. The purchase price was $103$ and the coupon dates are June and December $1.$ The Days to Maturity are $3600$ days. Settlement date: July

Required:

Record all of the necessary entries on the dates listed below. Assume each month has $30$ days and each year has $360$ days. Be sure to show the appropriate daily entries on the dates below. $($Question $1$ has multiple parts$)$

Compute any purchased interest. Days from June $1,2024$ to June $30,2024($day before ettlement$)=30$ days.

Record the journal entry on $T+1.$

Record the journal entries on T$+2($Hint: Make $3$ different entries$).$ Hint:

Don't forget to starting accruing interest and amortizing the premium.

On which date$($s$)$ is the NAV impacted and why is it impacted on that

date$($s$)?$