5. Maxim Corporation had the following transactions pertaining to debt investments. Jan. 1 Purchased 80,...
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Accounting
5. Maxim Corporation had the following transactions pertaining to debt investments.
Jan. 1 Purchased 80, 8%, $1,000 Woodrow Company bonds for $80,000.
July 1 Sold 20 Woodrow Company bonds for $21,500.
Instructions
Prepare journal entries for the purchase and sale of the Woodrow Company bonds.
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You can see the logs in the Dashboard.