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Entries for investment in bonds, Interest, and sale of bonds Instructions Chart of Accounts Journal...

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Entries for investment in bonds, Interest, and sale of bonds Instructions Chart of Accounts Journal Instructions Bocelli Co. purchased $162,000 of 5%, 20 year Sanz County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual interest on April 1 and October 1. On October 31, Year 1, Bocelli Co. sold 32.400 of the Sanz County bonds at 97 plus $135 accrued interest less a $115 brokerage commission Provide journal entries for the following (refer to the Chart of Accounts for exact wording of accountitles): b. C. d. The purchase of the bonds on May 11 plus 40 days of accrued interest assume a 360-day year. Semiannual interest on October 1 Sale of the bonds on October 31 Adjusting entry for accrued interest of $1.620 on December 31, Year 1

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