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Journalize the entries to record the following selected bond investment transactions for Hall Trust (refer to the Chart of Accounts for exact wording of account
Journalize the entries to record the following selected bond investment transactions for Hall Trust (refer to the Chart of Accounts for exact wording of account titles). Apr. Purchased for cash $240,000 of Medina City 6% bonds at 100 plus accrued interest of $3,600, paying interest semiannually. Received first semiannual interest payment. 1 30 June July 31 Sold $120,000 of the bonds at 98 plus accrued interest of $600 DATE DESCRIPTION POST. REF DEBIT CREDIT ASSETS LIABILITIES EQUITY Apr. 1 Investments-Medina City Bonds 240,000.00 Interest Receivable 3,600.00 Cash 243,600.00 Jun. 30 Cash 7,200.00 Interest Receivable 3,600.00 Interest Revenue 3,600.00 Jul. 31 Cash 118,200.00 Loss on Sale of Investments 2400.00 Interest Revenue 600.00 120,000.00 10
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