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Bond Investment Transactions
Journalize the entries to record the following selected bond investment transactions for Olson Products:
For a compound transaction, if an amount box does not require an entry, leave it blank.
a. Purchased for cash $120,000 of Hart Industries 9% bonds at 100 plus accrued interest of $1,800.
b. Received first semiannual interest payment.
c. Sold $80,000 of the bonds at 102 plus accrued interest of $610.
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