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Please prepare the following journal entries to record the sale of bonds on Jan 1,...

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Accounting

Please prepare the following journal entries to record the sale of bonds on Jan 1, 2022
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Current Attempt in Progress On January 1, 2020, Blue Spruce Company purchased $304,000 worth of 8% bonds of Aguirre Co.for $280,526. The bonds were purchased to yield 10% interest. Interest is payable semi-annually, on July 1 and January 1. The bonds mature on January 1, 2025, Blue Spruce Company uses the effective interest method to amortize the discount or premium. On January 1, 2022, to meet its liquidity needs, Blue Spruce Company sold the bonds for $281,752, after receiving interest. Debit Credit Date Account Titles and Explanation Jan. 1 (To adjust to fair value at date of disposal) Jan. 1 (To record disposal) Jan. 1 (To reclassify holding loss)

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