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Entries for Imvestment in Bonds, tnterest, and Sale of Bonds. The foliowing bond investment transactions...

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Accounting

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Entries for Imvestment in Bonds, tnterest, and Sale of Bonds. The foliowing bond investment transactions were completed during a recent year by Starks Company: Year 1 3an, 31 Purchased 24,$1,000 government bonds at 100 plus accrued interest of $120 (one month), The bonds pay 6% annual interest on Wly1 and January 1. July 1 Recelved semiannuat interest on bond investment. Aug. 30 Sold 9,$1,000 bonds at 97 plus $90 accrued interest (two months). a. Journalize the entries for these transactions. Assume a 360-day year: Do not round interim calculations. Round final answers to nearest dollar, For a compound transaction, if an amount box does not require an entry, leave it blank. Iuly 1 Recelved semiannual interest on bond investment. Aug. 30 Sold 9,$1,000 bonds at 97 plus $90 accrued interest (two months). a. Journalize the entries for these transactions. Assume a 360-day year. Do not round interim calculations. Round final answers to nearest dollar. For a compound transaction, if an amount box does not require an entry, leave it blank. b. Provide the December 3t, Year 1, adjusting journal entry for semiannual interest earned on the bonds. Asume a 360 - day year, Do not round interim calculations. Round final answers to nearest doilar

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