Question: plz provide the explanation for highlighted entry. do not answer if you cannot explain plz 4. On August 1, 2011, Airport Company sold Paxton Company

plz provide the explanation for highlighted entry. do not answer if

plz provide the explanation for highlighted entry. do not answer if you cannot explain plz

4. On August 1, 2011, Airport Company sold Paxton Company $1,000,000 of 10-year, 6% bonds, dated July 1 at 100 plus accrued interest. On March 1, 2012, Paxton sold half of the bonds for $520,000 plus accrued interest. Present entries to record the following transactions: Paxton Company: (1) Purchase of bonds on August 1, 2011. (2) Receipt of first semiannual interest amount on December 31, 2011. (3) The sale of the bonds on March 1, 2012

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