Portland is a public company and purchased the investment to earn interest income. 2021 Jan. 1 Purchased $135,600 of Larkspur Inc. eight-year, 7% bonds for $153,303, to yield a market interest rate of 5%. Interest is payable semi-annually on July 1 and January 1. Received semi-annual interest on Larkspur bonds. Accrued interest at Portland's year end. 1 July Dec. 31 2022 Jan. 1 July 1 Recorded receipt of interest payment from bonds. Recorded receipt of interest payment from bonds. Sold the bonds on the open market for $145,000. 2