Current Attempt in Progress

The following information relates to the debt securities investments of Sheffield Company.

On February $1,$ the company purchased $11\%$ bonds of Gibbons Co$.$ having a par value of $$318,000$ at $100$ plus accrued

interest. Interest is payable April $1$ and October $1.$

On April $1,$ semiannual interest is received.

On July $1,9\%$ bonds of Sampson, Inc. were purchased. These bonds with a par value of $$219,600$ were purchased at $100$ plus

accrued interest. Interest dates are June $1$ and December $1.$

On September $1,$ bonds with a par value of $$55,200,$ purchased on February $1,$ are sold at $97$ plus accrued interest.

On October $1,$ semiannual interest is received.

On December $1,$ semiannual interest is received.

On December $31,$ the fair value of the bonds purchased February $1$ and July $1$ are $93$ and $91,$ respectively.

Prepare any journal entries you consider necessary, including year$-$end entries $($December $31),$ assuming these are available$-$for$-$sale

securities$.($List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent

manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

No$.$

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