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Required information APA-2 (Algo) Recording Passive Investments LO A-1 [The following information applies to the questions displayed below] On October 1. 20X1. Hill-Nielsen purchased at
Required information APA-2 (Algo) Recording Passive Investments LO A-1 [The following information applies to the questions displayed below] On October 1. 20X1. Hill-Nielsen purchased at par $170,500,4 percent, bonds of Community Communications Company. The bonds pay interest quarterly on March 31, June 30, September 30, and December 31. HIIl-Nielson Corporation's year ends on December 31. The following information applies to the fair value of Community Communications' bonds: Hill-Nielson sold the bonds on March 17, 20X4, for $164,050. APA-2 Part 2 2. Assuming that Hill-Nielson purchased the bonds as trading securities, prepare journal entries at the end of each year and on the date of sale. ignore interest. Note: if no entry is required for a transaction/event, select "No journol entry required" in the first account field. Assuming that Hill-Nielson purchased the bonds as trading securities, prepare journal entries at the end of each year and on the te of sale. Ignore interest. ote: If no entry is required for a transoction/event, select "No journal entry required" in the first account field
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