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Please fill in the chart provided Debt Investment Transactions, Available-for-Sale Valuation Dollar Mart Inc. is a general merchandise retail company that began operations on January
Please fill in the chart provided
Debt Investment Transactions, Available-for-Sale Valuation
Dollar Mart Inc. is a general merchandise retail company that began operations on January 1, 2014. The following transactions relate to debt investments acquired by Dollar Mart Inc., which has a fiscal year ending on December 31:
| 2014 | |
| May 1 | Purchased $78,000 of Elkin City 7%, 10-year bonds at their face amount plus accrued interest of $910. The bonds pay interest semiannually on March 1 and September 1. |
| June 16 | Purchased $110,000 of Morgan Co. 6%, 12-year bonds at their face amount plus accrued interest of $275. The bonds pay interest semiannually on June 1 and December 1. |
| Sep. 1 | Received semiannual interest on the Elkin City bonds. |
| Oct. 1 | Sold $31,200 of Elkin City bonds at 103 plus accrued interest of $182. |
| Dec. 1 | Received semiannual interest on Morgan Co. bonds. |
| Dec. 31 | Accrued $1,092 interest on Elkin City bonds. |
| Dec. 31 | Accrued $550 interest on Morgan Co. bonds. |
| 2015 | |
| Mar. 1 | Received semiannual interest on the Elkin City bonds. |
| June 1 | Received semiannual interest on the Morgan Co. bonds. |
Required:
Journalize the entries to record these transactions. For a compound transaction, if an amount box does not require an entry, leave it blank.
| Date | Amount | Debit | Credit |
|---|---|---|---|
| 2014 | |||
| May 1 | SelectBonds PayableCashInterest RevenueInvestments-Elkin City BondsNotes ReceivableItem 1 | ||
| SelectCashDividend RevenueInterest ReceivableInterest RevenueNotes ReceivableItem 4 | |||
| SelectBonds PayableCashInterest ReceivableInvestments-Elkin City BondsNotes ReceivableItem 7 | |||
| June 16 | SelectBonds PayableCashInterest RevenueInvestments-Morgan Co. BondsNotes ReceivableItem 10 | ||
| SelectCashInterest PayableInterest ReceivableInterest RevenueNotes ReceivableItem 13 | |||
| SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsItem 16 | |||
| Sep. 1 | SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Elkin City BondsItem 19 | ||
| SelectCashInterest PayableInterest ReceivableInvestments-Elkin City BondsNotes ReceivableItem 22 | |||
| SelectBonds PayableCashDividend RevenueInterest RevenueInvestments-Elkin City BondsItem 25 | |||
| Oct. 1 | SelectCashGain on Sale of InvestmentInterest PayableInvestments-Elkin City BondsRetained EarningsItem 28 | ||
| SelectBonds PayableInterest RevenueLoss on Sale of InvestmentNotes ReceivableRetained EarningsItem 31 | |||
| SelectCashDividend RevenueGain on Sale of InvestmentInterest ReceivableLoss on Sale of InvestmentItem 34 | |||
| SelectCashDividend RevenueInvestments-Elkin City BondsLoss on Sale of InvestmentNotes ReceivableItem 37 | |||
| Dec. 1 | SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsItem 40 | ||
| SelectCashInterest PayableInterest ReceivableInvestments-Morgan Co. BondsNotes ReceivableItem 43 | |||
| SelectBonds PayableCashDividend RevenueInterest RevenueInvestments-Morgan Co. BondsItem 46 | |||
| Dec. 31 Elkin City | SelectCashInterest ReceivableInterest RevenueInvestments-Elkin City BondsNotes ReceivableItem 49 | ||
| SelectCashDividend RevenueInterest RevenueInvestments-Elkin City BondsNotes ReceivableItem 51 | |||
| Dec. 31 Morgan Co. | SelectCashInterest ExpenseInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsItem 53 | ||
| SelectCashInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsNotes ReceivableItem 55 | |||
| 2015 | |||
| Mar. 1 | SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Elkin City BondsItem 57 | ||
| SelectCashInterest PayableInterest ReceivableInvestments-Elkin City BondsNotes ReceivableItem 60 | |||
| SelectBonds PayableCashDividend RevenueInterest RevenueInvestments-Elkin City BondsItem 63 | |||
| June 1 | SelectBonds PayableCashInterest ReceivableInterest RevenueInvestments-Morgan Co. BondsItem 66 | ||
| SelectCashInterest PayableInterest ReceivableInvestments-Morgan Co. BondsNotes ReceivableItem 69 | |||
| SelectBonds PayableCashDividend RevenueInterest RevenueInvestments-Morgan Co. BondsItem 72 | |||
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