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.

2018

Nov. 1 Purchased $300,000 face value of Joos, Inc.'s 9% bonds at 102 plus a brokerage commission of $900. 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 investment in the Joos bonds.

Dec. 31 Made the adjusting entry to record the current fair value of the Joos bonds. At December 31, 2018, the fair value of the Joos bonds was $301,500.

2019

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

May 1 Sold the Joos bond investment for $300,900 cash.

Credit 0 0 306,900 0 4,500 a. Prepare journal entries to record these transactions. General Journal Date Description Debit 11/1/18 Investment in Joos 306,900 Cash 0 12/31/18 Interest receivable 4,500 Interest revenue 0 To record interest revenue 12/31/18 Unrealized loss 5,400 Investment in Joos 0 To record adjustment current fair value 4/30/19 Cash 13,500 Interest receivable 0 Interest revenue 0 5/1/19 Cash 300,900 Loss on sale of investments 600 Investment in Joos 0 0 5,400 0 4,500 9,000 0 0 0 301,500 b. Post the journal entries from a to their respective T-accounts. Cash Investment in Joos 0 x 306,900 306,900 600 x 300,900 0 0 301,500 Interest Revenue 0 0 0X 0 X Interest Receivable Ox Gain on Sale 0 0 X 0 Unrealized Gain 0 Unrealized Loss Ox 0 0 Loss on Sale 0 0 X 0