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Entries for Investment in Bonds, Interest, and Sale of Bonds

Gonzalez Company acquired $$205,800$ of Walker C$0.,6\%$ bonds on May $1$ at their face amount. Interest is paid semiannually on May $1$ and November $1.$ On November $1,$ Gonzalez Company sold $$53,400$ of the bonds for $97.$

Journalize entries to record the following in Year $1$:

For a compound transaction, if an amount box does not require an entry, leave it blank.

a$.$ The initial acquisition of the bonds on May $1.$

May $1$Investments$-$WalkerCo.Bonds$$

$205,800$

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b$.$ The semiannual interest received on November $1.$

Nov. $1$

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b$.$ The semiannual interest received on November $1.$

Nov. $1$

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c$.$ The sale of the bonds on November $1.$

Nov, $1$

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