Entries for Investment in Bonds, Interest, and Sale of Bonds Parllo Company acquired $161,400 of...
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Entries for Investment in Bonds, Interest, and Sale of Bonds Parllo Company acquired $161,400 of Makofske Company, 5% bonds on May 1, 20y5, at their face amount. Interest is paid semiannually on May 1 and November 1 , On Navember 1, 20y5, Parilo sold $58,800 of the bonds for 96 . Journalize the entries to record the following under the cost method: If an amount box does not require an entry, leave it blank. a. The initial acquisition of the bonds on May 1 . 20Y5 May 1 b. The semiannual interest received on November 1 . 20Y5 Nov. 1 c. The sale of the bonds on November 1 . 20 Y5 Nov. 1 d. The accrual of $855 interest on December 31, 20Y5, 20 2. Dec. 31
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