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On September 1, Parsons Company purchased $84,000, 10-year, 7% government bonds at 100 plus accrued interest. The semiannual interest payment dates are June 30 and

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On September 1, Parsons Company purchased $84,000, 10-year, 7% government bonds at 100 plus accrued interest. The semiannual interest payment dates are June 30 and December 31. Interest calculations are done by the month. Required: a. Journalize the entry to record the bond purchase. b. Journalize the receipt of interest on December 31 of the first year. c. Journalize the sale of the bonds on February 1 of the second year for $82,000 plus accrued interest. C. Journalize the sale of the bonds on February 1 of the second year fo If an amount box does not require an entry, leave it blank. a. Year 1 Sept. 1 Wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwww b. Year 1 Dec Cash . Interest Payable Interest Revenue Investments-Government Bonds C. Year 2 Feb Supplies I ULT If an amount box does not require an entry, leave it blank. a. Year 1 Sept. 1 b. Year 1 Dec. 31 o b1 ml c. Year 2 Feb. 1 Cash Discount on Bonds Payable Interest Expense Interest Revenue Supplies C. Journalize the sale of the bonds on February 1 of the second year for $82,000 plus accrued interest. If an amount box does not require an entry, leave it blank. a. Year 1 Sept. 1 b. Year 1 Dec. 31 C. Year 2 Feb. 1 Cash Interest Receivable Interest Revenue Loss on Sale of Investments Supplies

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