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Sunland Limited had the following transactions pertaining to debt investments. Jan 1, 2020 Purchased 50 1,500 Petal Co. 9% bonds for 75,000 cash. Interest is
Sunland Limited had the following transactions pertaining to debt investments. Jan 1, 2020 Purchased 50 1,500 Petal Co. 9% bonds for 75,000 cash. Interest is payable annually on January 1 Dec 31, 2020 Accrued interest on the Petal Co, bonds. Jan 1, 2021 Received interest on Petal Co, bonds. Jan. 1.2021 Sold 30 Petal Co. bonds for 50,250. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not Indent manually. If no entry is required, select "No entry for the account titles and enter o for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Prepare the adjusting entry for the accrual of interest at December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31
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