Bocelli Co. purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, 2016, directly from the
Question:
Provide journal entries for the following:
a. The purchase of the bonds on May 11, plus 40 days of accrued interest.
b. Semiannual interest on October 1.
c. Sale of the bonds on October 31.
d. Adjusting entry for accrued interest of $1,365 on December 31, 2016.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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