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On July 1 , 2 0 2 4 , Bramble Corporation, a private company, purchased $ 2 4 9 , 6 0 0 of six

On July 1,2024, Bramble Corporation, a private company, purchased $249,600 of six-year, 5%
Star Corporation bonds for $262,800. The bonds pay interest each June 30. The bonds were
purchased to earn interest and the market interest rate at the time of purchase was 4%. The
company uses the effective-interest method to amortize any premium or discount on debt
security investments.
Prepare the required journal entries on July 1 and December 31,2024, and June 30,2025.(Record
entries in the order displayed in the problem statement. Credit account titles are automatically indented
when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts. List all debit entries before credit entries.)
Date
Account Titles and
Explanation
Debit
Credit
2024On July 1,2024, Bramble Corporation, a private company, purchased $249,600 of six-year, 5%
Star Corporation bonds for $262,800. The bonds pay interest each June 30. The bonds were
purchased to earn interest and the market interest rate at the time of purchase was 4%. The
company uses the effective-interest method to amortize any premium or discount on debt
security investments.
Prepare the required journal entries on July 1 and December 31,2024, and June 30,2025.
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