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Jenek Corporation had the following transactions pertaining to debt investments. 1. Purchased458%, $1,500 Leeds Co. bonds for $67,500cash. Interest is payable annually on January 1,
Jenek Corporation had the following transactions pertaining to debt investments.
1. | Purchased458%, $1,500 Leeds Co. bonds for $67,500cash. Interest is payable annually on January 1, 2017. |
2. | Accrued interest on Leeds Co. bonds on December 31, 2017. |
3. | Received interest on Leeds Co. bonds on January 1, 2018. |
4. | Sold27Leeds Co. bonds for $45,900 on January 1, 2018. |
Journalize the transactions.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem. Round answers to 0 decimal places, e.g. 5,275.)
No. | Date | Account Titles and Explanation | Debit | Credit |
1. | Jan. 1, 2017Dec. 31, 2017Jan. 1, 2018 | |||
2. | Jan. 1, 2017Dec. 31, 2017Jan. 1, 2018 | |||
3. | Jan. 1, 2017Dec. 31, 2017Jan. 1, 2018 | |||
4. | Jan. 1, 2017Dec. 31, 2017Jan. 1, 2018 | |||
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