TI-30XA TEXAS INSTRUMENTS 425 ON/C end DRG LOG LN OFF Accounting YP SIN COS TAN T OBJ. 2 investment in bonds, interest, and sale of bonds equired $200,000 of walker Co.., 6% bonds on May 1 at their face Pnd Semiannually on May 1 and November 1. On November 1, EE old $70,000 of the bonds for 97. to record the following in Year 1: tion of the bonds on May 1. 8. hterest received on November 1. onds on November 1. SCL ENG 4 ,300 interest on December 31. 3 OBJ. 2 investments in bonds, interest, and sale of bonds quired $160,000 of Murphy Corp., 5% bonds at their face amount on pe bonds pay interest on October 1 and April 1. On April 1, Year 2, of Murphy Corp. bonds at 102. tries to record the following: ODEOMS FIX SCIENTIFIC ition of the Murphy Corp, bonds on October 1, Year 1. entry for three months of accrued interest earned on the Murphy Corp. ecember 31, Year 1. The receipt of semiannual interest on April 1, Year 2. d. The sale of $60,000 of Murphy Corp. bonds on April 1, Year 2, at 102. EX 15-3 Entries for investment in bonds, interest, and sale of bonds OBJ. 2 Loss on sale Bocelli Co. purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, Year 1, directiy from the county, at their face amount plus accrued interest. The bonds pay semiannuar nterest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold $30,000 of the Sanz County bonds at 99 plus $150 accrued interest less a $100 brokerage commission. Provide journal entries for the following: ents, $400 Show Пе a. The purchase of the bonds on May 11 plus 40 days of accrued interest. b. Semiannual interest on October 1. C. Sale of the bonds on October 31. d. Adjusting entry for accrued interest of $1,365 on December 31, Year 1. OBJ. 2 EX 15-4 Entries for investment in bonds, interest, and sale of bonds n sale 00 The following bond investment transactions were completed during a recent year by Starks Company: Year 1 Jan. 31. Purchased 75, $1,000 government bonds at 100 plus accrued interest of $375 (one month). The bonds pay 6% annual interest on July 1 and January 1. July 1. Received semiannual interest on bond investment. Aug. 30. Sold 35, $1,000 bonds at 98 plus $350 accrued interest (two months). a. Journalize the entries for these transactions. b. Provide the December 31, Year 1, adjusting journal entry for semiannual interest earned. on the bonds. OBI

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