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Journalize the entries to record the following selected bond investment transactions for Southwest Bank: (1) Record journal entry to purchase $800,000 Vegas, Inc. bonds with
Journalize the entries to record the following selected bond investment transactions for Southwest Bank:
(1) Record journal entry to purchase $800,000 Vegas, Inc. bonds with cash. Bonds pay 10% interest semi-annually.
(2) Received first semiannual interest.
(3) Sold $400,000 of the bonds and received cash in the amount of $388,000
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