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Pharoah Corporation had the following transactions pertaining to debt investinents 1. Purchased 80 Leeds Co. 8% bonds (each witha face value of $1,000 ) for
Pharoah Corporation had the following transactions pertaining to debt investinents 1. Purchased 80 Leeds Co. 8% bonds (each witha face value of $1,000 ) for $60.000 cash. Interest is payable annually on January 2. Accrued interest on Leeds Co. bonds on December 31,2022 . 3. Recelved interest on Leeds Co, bonds on January 1,2023. 4. Sold 50 Leeds Co bonds for $52,500 on January 1,2023. Journalize the transactions. (Ust all debit entries before credit entries. Credit account titles are outomotically indented when amount is entered, Do not indent manually If no entry Is required, select "No entry" for the occount tiles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
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