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LSE Inc. began operations on January 1, 2019. The following transactions relate to debt investments acquired by LSE Inc., which has a fiscal year ending
LSE Inc. began operations on January 1, 2019. The following transactions relate to debt investments acquired by LSE Inc., which has a fiscal year ending on December 31: Apr.1 Purchased $90,000 of Sortein Co. 6%, 10-year bonds at their face amount plus accrued interest of $900. The bonds pay interest semiannually on February 1 and August 1. May.16 Purchased $42,000 of Gem Co.4%, 12-year bonds at their face amount plus accrued interest of $70. The bonds pay interest semiannually on May 1 and November 1. Aug.1 Received semiannual interest on the Sortein Co. bonds. Sep.1 Sold $12,000 of Sortein Co. bonds at 101 plus accrued interest of $60. Nov.1 Received semiannual interest on the Gem Co. bonds. Dec.31 Accrued $1,950 interest on the Sortein Co. bonds. Dec.31 Accrued $280 interest on the Gem Co. bonds. Instructions: Journalize the transactions
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