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  3. gonzalez company acquired $166,800 of walker co.,

Gonzalez Company acquired $166,800 of Walker Co., 5 % bonds on May 1 at their...

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Accounting

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Gonzalez Company acquired $166,800 of Walker Co., 5 % bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $58,200 of the bonds for 95. Journalize entries to record the following in Year 1: compound transaction, if an amount box does not require an entry, leave it blank. For May 1 a. The initial acquisition of the bonds May 1 b. The semiannual interest received on November 1. Nov. 1 c. The sale of the bonds on November 1 Nov. 1 d. The accrual of $905 interest on December 31 Dec. 31

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