On Jan 1 ' 0 7 SSS buys 1 0 0 US Treasury Bonds ( face value

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Question:

On Jan

1 \' 07

SSS buys

100

US Treasury Bonds

(

face value $

1000

each

)

for the Trading

Portfolio. The bonds carry an annual interest coupon of

4 %

paid semiannually Jan

1

and July

1 .

Journalize the purchase.

On Julv I the bonds

On Aug

1,

SSS sells

50

of the bonds at

98

On December

3

loss makes an adrusting entry tor accrual of interest to be

2008 .

Show the adiustment for the accrual of interest.

January I

On Dec

31,

the bonds are trading at

97 .

Lue austment,

11

any, needs to be made?

How will the bonds be shown on the Balance Sheet?

Posted Date: May 13, 2024 02:01 AM

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On Jan 1 ' 0 7 SSS buys 1 0 0 US Treasury Bonds ( face value

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