Kalyagin Investments acquired $245,200 of Jerris Corp., 5% bonds at their face amount on October 1, 2016. The bonds pay interest on October 1 and April 1. On April 1, 2017, Kalyagin sold $112,000 of Jerris Corp. bonds at 101.

Journalize the entries to record the following (refer to the Chart of Accounts for exact wording of account titles and be sure to enter the year as part of the date):

2016

Oct. 1 Initial acquisition of the Jerris Corp. bonds

Dec. 31 Adjusting entry for three months of accrued interest earned on the Jerris Corp. bonds

2017

Apr. 1 Receipt of semiannual interest 1

Apr. 1 Sale of $112,000 of Jerris Corp. bonds, at 101

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JOURNAL

Score: 90/125

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