Montrose Corp. manufactures lawn care equipment. Journalize the entries to record the following selected available-for-sale investment transactions completed by Montrose Corp. during 2015. Montrose Corp. includes brokerage fees as part of the cost of investments.
Apr. 6. Purchased for cash $130,000 of 10-year, 6.5% Cranberry Ltd. bonds at par plus accrued interest and a brokerage fee of $500. Interest is paid February 1 and August 1.
Aug. 1. Received interest on the Cranberry Ltd. bonds.
Nov. 10. Sold $20,000 of the Cranberry Ltd. bonds at 103 plus accrued interest, less brokerage fees of $200.