Question
Pharoah Corporation had these transactions pertaining to debt investments: Jan. 1 Purchased 93 Martine Co. 10% bonds (each with a face value of $1,000) for
Pharoah Corporation had these transactions pertaining to debt investments:
Jan. | 1 | Purchased 93 Martine Co. 10% bonds (each with a face value of $1,000) for $93,000 cash. Interest is payable annually on July 1 and January 1. | |
July | 1 | Received annual interest on Martine Co. bonds. | |
July | 1 | Sold 32 Martine Co. bonds for $33,390. |
Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
choose a transaction date Jan. 1Jul. 1Dec. 31 | enter an account title | enter a debit amount | enter a credit amount |
enter an account title | enter a debit amount | enter a credit amount | |
choose a transaction date Jan. 1Jul. 1Dec. 31 | enter an account title to record interest | enter a debit amount | enter a credit amount |
enter an account title to record interest | enter a debit amount | enter a credit amount | |
(To record interest) | |||
choose a transaction date Jan. 1Jul. 1Dec. 31 | enter an account title to record sale of bonds | enter a debit amount | enter a credit amount |
enter an account title to record sale of bonds | enter a debit amount | enter a credit amount | |
enter an account title to record sale of bonds | enter a debit amount | enter a credit amount |
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