Below are selected transactions for Ink Corporation. Ink Corporation began operations on January 1, 2021 and has a fiscal year end of December 31*. Prepare journal entries for each transaction. MUST SHOW ALL YOUR WORK! IF NECESSARY, ROUND AMOUNTS TO NEAREST DOLLAR. Date Transaction Description 08/01/2021 Purchased for cash $95,000 of Zarpo, Inc. 12% bonds at 100 plus accrued interest. The bonds pay interest on August 31" and February 28th. 8/31/2021 Received the semiannual interest payment. 11/30/2021 Sold $45,000 of the bonds at 98 plus accrued interest.

Below are selected transactions for Ink Corporation. Ink Corporation began operations on January 1, 2021 and has a fiscal year end of December 31*. Prepare journal entries for each transaction. MUST SHOW ALL YOUR WORK! IF NECESSARY, ROUND AMOUNTS TO NEAREST DOLLAR. Date Transaction Description 08/01/2021 Purchased for cash $95,000 of Zarpo, Inc. 12% bonds at 100 plus accrued interest. The bonds pay interest on August 31" and February 28th. 8/31/2021 Received the semiannual interest payment. 11/30/2021 Sold $45,000 of the bonds at 98 plus accrued interest.

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter14: Long-term Liabilities: Bonds And Notes

Section: Chapter Questions

Problem 6PA: Saverin, Inc. produces and sells outdoor equipment. On July 1, 2016, Saverin, Inc. issued 62,500,000...

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