Problem 1

Dell Corporation had the following transactions pertaining to debt investments:

1. Jan. 1, 2017 - Purchased 50, $1,000 Apple Corporation 8% bonds for $50,000. Interest is payable on January 1.

2. Dec. 31, 2017 - Accrued interest on Apple Corporation bonds in 2017.

3. January 1, 2018 - Received interest on Apple Corporation bonds.

4. January 1, 2018 - Sold 25 shares of Apple Corporation for $20,000.

5. Dec. 31, 2018 - Accrued Interest on Apple Corporation bonds in 2018.

Journalize the transactions.