On September 1 , Year 1 , Parsons Company purchased $84,000 of 10 -year, 7%...
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Accounting
On September 1 , Year 1 , Parsons Company purchased $84,000 of 10 -year, 7% government bonds a 100 plus accrued interest. The semiannual interest payment dates are June 30 and December 31. Interest computations are done by the month. Required: a. Journalize the entry for the bond purchase. b. Journalize the receipt of interest on December 31 of the first year. c. Journalize the sale of the bonds on February 1 of the second year for $82,000 plus accrued interest. If an amount box does not require an entry, leave it blank
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