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Instructions Bula Investments acquired $210,800 of Effenstein Corp., 7% bonds at their face amount on October 1, 20Y1. The bonds pay interest on October
Instructions Bula Investments acquired $210,800 of Effenstein Corp., 7% bonds at their face amount on October 1, 20Y1. The bonds pay interest on October 1 and April 1 On April 1, 2012, Bula sold $119,200 of Effenstein Corp. bonds at 102. Required: Journalize the entries to record the following a. The initial acquisition of the Effenstein Corp. bonds on October 1, 20Y1" b. The adjusting entry for 3 months of accrued interest earned on the Effenstein Corp. bonds on December 31, 20Y1" The receipt of semiannual interest on April 1, 2012.* d. The sale of $119,200 of Effenstein Corp bonds on April 1, 2012, at 102 e. The receipt of the face value of the remaining bonds at their maturity on October 1, 2018 Refer to the chart of accounts for the exact wording of the account titles CNOW journals do not use lines for journal explanations Every line on a journal page is used for debit or credit entries CNOW journals will automatically indent a credit entry when a credit amount is entered Do not round your intermediate calculations and round final answers to the nearest dollar.
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