EmmyLou Company purchased 70 Harris Company 12 10 year 1 000
EmmyLou Company purchased 70 Harris Company 12%, 10-year, €1,000 bonds on January 1, 2011, for €73,000. EmmyLou Company also had to pay €500 of broker’s fees. The bonds pay interest semiannually on July 1 and January 1. On January 1, 2012, after receipt of interest, EmmyLou Company sold 40 of the bonds for €40,100.

Instructions
Prepare the journal entries to record the transactions described above.

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