Gonzalez Company acquired $158,400 of Walker Co., 6% bonds onMay 1 at their face amount. Interest is paid semiannually on May 1and November 1. On November 1, Gonzalez Company sold $47,400 of thebonds for 95.
Journalize entries to record the following in Year 1 (refer tothe Chart of Accounts for exact wording of account titles):
| a. | The initial acquisition of the bonds on May 1. |
| b. | The semiannual interest received on November 1. |
| c. | The sale of the bonds on November 1. |
| d. | The accrual of $1,110 interest on December 31. |
