Parilo Company acquired $170,000 of Makofske Co., 5% bonds on May 1, 2016, at their face amount.
Question:
Journalize entries to record the following:
a. The initial acquisition of the bonds on May 1.
b. The semiannual interest received on November 1.
c. The sale of the bonds on November 1.
d. The accrual of $1,000 interest 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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