Show Me How

eBook

$($Held$-$to$-$Maturity$)$ Investments

Instructions

Chart of Accounts

Journal

Instructions

Required:

Journalize the entries to record the following:

a$.$ The initial acquisition of the Effenstein Corp. bonds on October $1,20$Y$1."$

b$.$ The adjusting entry for $3$ months of accrued interest earned on the Effenstein Corp. bonds on December $31,20$Y$1.$

c$.$ The receipt of semiannual interest on April $1,20$Y$2."$

d$.$ The sale of $$111,200$ of Effenstein Corp. bonds on April $1,20$Y$2,$ at $105.*$

e$.$ The receipt of the face value of the remaining bonds at their maturity on October $1,20$Y$8.*$

$-$Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for joumal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered. Do not round your intermediate calculations and round final answers to the nearest dollar.

Check My Work