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Jenek Corporation had the following transactions pertaining to debt investments. 1. Purchased 60 8%, $1,850 Leeds Co. bonds for $111,000 cash. Interest is payable annually
Jenek Corporation had the following transactions pertaining to debt investments.
1. | Purchased 60 8%, $1,850 Leeds Co. bonds for $111,000 cash. 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. | Sold 36 Leeds Co. bonds for $75,480 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.)
please include all answers thank you
No. Date Account Titles and Explanation Debit Credit 1. 2. 3. 4Step by Step Solution
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