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On the 1 st of January 2019 Denver company decided to purchase a new bond for active trading. The bond had a maturity value of

On the 1^stof January 2019 Denver company decided to purchase a new bond for active trading. The bond had a maturity value of 20,000, 7% by paying 19,296.354 with interest paid at the end of each year. Assume that the yield rate on this investment is 9%. At the end of 2019 the bond had a fair value of 19,000. On 1.10.2020 the company sold the investment for 18,900$

Required:

1. Record the required journal entries at 31.12.2019

2. Record the required journal entries at 1.10.2020

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