with dates!
On May 1, Knox Inc. purchases $100,000 of 10 -year, 6% Madison Corporation bonds dated March 1 at 100 plus accrued interest. Required: Journalize the entry to record the bond purchase on May 1. Refer to the Chart of Accounts for exact wording of account titles. Chart Of Accounts ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 611 Interest Revenue 121 Allowance for Doubtful Accounts 612 Dividend Revenue 131 Notes Receivable 631. Gain on Sale of Investments 132 Interest Receivable 641 Unrealized Gain on Trading 141 Merchandise Inventory Investments 151 Supplies 152 Prepaid Insurance EXPENSES 161 Investments-Madison Corporation Bonds 511 Cost of Merchandise Sold 165 Valuation Allowance for Trading Investments 512 Bad Debt Expense 166 Valuation Allowance for Available-for-Sale Investments 522. Salaries Expense 181 Land 531 Advertising Expense 191 Equipment 532 Rent Expense 192 Accumulated Depreciation-Equipment 533 Insurance Expense 534 Supplies Expense LLABILITIES 561 Depreciation Expense-Equipment 210 Accounts Payable 590 Miscellaneous Expense Chart Of Accounts 210 Accounts Payable 590 Miscellaneous Expense 221 Notes Payable 710 Interest Expense 231 Interest Payable 731 Loss on Sale of Investments 241 Salaries Payable 741 Unrealized Loss on Trading - Investments EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Treasury Slock 332 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 351 Cash Dividends 352 Unrealized Gain (Loss) on Available-for-Sale Investments 353 Stock Dividends 390 Income Summary Journalize the entry to record the bond purchase on May 1 . Pefer to the Chart of Accounts for exact wording of account titles