Question: On April 30 of Year 1 the Aggie Corporation purchased

On April 30 of Year 1, the Aggie Corporation purchased available-for-sale securities. These securities consisted of
(a) Smith Corporation 10%, five-year bonds with a face value of $12,000, which were purchased at par plus four months of accrued interest
(b) 300 shares of Bike Company common stock, which were purchased at $20 per share. Prepare the April 30 journal entry to record the purchase of these available-for-sale securities.

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  • CreatedDecember 09, 2013
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