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Jose Corporation had the following transactions pertaining to debt investments. 1. Purchased 70 Meierhoff Co. 8%, $1,000 bonds for $70,000 cash on January 1, 2016.
Jose Corporation had the following transactions pertaining to debt investments.
1. Purchased 70 Meierhoff Co. 8%, $1,000 bonds for $70,000 cash on January 1, 2016.
Interest is payable annually on January 1.
2. Accrued interest on Meierhoff Co. bonds on December 31, 2016.
3. Received interest on Meierhoff Co. bonds on January 1, 2017.
4. Sold 30 Meierhoff Co. bonds for $33,500, on January 1, 2017.
Instructions
Journalize the transactions.
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