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Bond Investment Transactions Journalize the entries to record the following selected bond investment transactions for...

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Accounting

Bond Investment Transactions

Journalize the entries to record the following selected bond investment transactions for Starks Products:

For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Purchased for cash $96,000 of Iceline, Inc. 9% bonds at 100 plus accrued interest of $1,440, paying interest semiannually.

Investments-Iceline, Inc. Bonds
Interest Receivable
Cash

b. Received first semiannual interest payment.

Cash
Interest Receivable
Interest Revenue

c. Sold $64,000 of the bonds at 102 plus accrued interest of $490.

Cash
Interest Revenue
Gain on Sale of Investments
Investments-Iceline, Inc. Bonds

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