Question
Parilo Company acquired $183,600 of Makofske Co., 4% bonds on May 1, 2016, at their face amount. Interest is paid semiannually on May 1 and
Parilo Company acquired $183,600 of Makofske Co., 4% 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 $43,800 of the bonds for 97.
Journalize entries to record the following| May | 1 | Initial acquisition of the bonds |
| Nov. | 1 | Semiannual interest received |
| 1 | Sale of the bonds | |
| Dec. | 31 | Accrual of $932 interest |
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Microsoft Excel For Accounting The First Course
Authors: L Murphy Smith, Katherine Smith
1st Edition
0130085529, 978-0130085528
