Parilo Company acquired $170,000 of Makofske Co., 5% bonds on May 1, 2016, at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, 2016, Parilo Company sold $50,000 of the bonds for 96.

Journalize entries to record the following (refer to the Chart of Accounts for exact wording of account titles):

May	1	Initial acquisition of the bonds
Nov.	1	Semiannual interest received
	1	Sale of the bonds
Dec.	31	Accrual of $1,000 interest