Reporting of and Analyzing Financial Effects of Trading (Debt) Securities Barclay, Inc., had the following transactions and adjustments related to a bond investment that is classified as a trading security.

2015

- Nov. 1 Purchased $500,000 face value of Joos, Inc.'s 9% bonds at 102 plus a brokerage commission of $1,000. The bonds pay interest on October 31 and April 30 and mature in 15 years. Barclay expects to sell the bonds in the near future.

- Dec. 31 Made the adjusting entry to record interest earned on an investment in the Joos bonds.

- Dec. 31 Made the adjusting entry to record the current fair value of the Joos bonds. On December 31, 2015, the fair value of the Joos bonds was $503,600.

2016

- Apr. 30 Received the semiannual interest payment on investment in the Joos bonds.

- May 1 Sold the Joos bond investment for $501,000 cash.

a. Prepare journal entries to record these transactions.

b) Record each of the transactions in the financial statement effects template.

Please explain how did you find the all numbers and show your calculations!!!!! Thank you

General Journal Date Description 11/1/15 Investment in Joos Debit Credit 0 501,000 0 0 12/13/15 0 0 0 0 To record interest revenue 12/31/15 0 0 0 0 To record adjustment current fair value 4/30/16 0 0 0 0 0 0 Interest revenue Cash 5/1/16 0 0 0 0 0 0 Balance Sheet Income Statement Net Income Cash Asset + Noncash Assets = 0 + 0 = 0 + 0 = Liabilities + Contrib. Capital + Earned Capital 0 + 0 0 Revenue 0 Expenses 0 = 0 0 + 0 + 0 0 0 = 0 Transaction 11/1 Buy Joos bonds at 102. 12/31 Accrue interest. 12/31 Recognize decline in value of bonds. 4/30Receive interest. 5/1 Sold Joos bonds. 0 + 0 = 0 + 0 + 0 0 0 = 0 0 + 0 = 0 + 0 0 0 0 = 0 0 + 0 = 0 + 0 + 0 0 - 0 = 0