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):

May1Initial acquisition of the bondsNov.1Semiannual interest received1Sale of the bondsDec.31Accrual of $1,000 interest