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sale 000 2012, at 102. the remaining bonds at their maturity on October 1, 2018...

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sale 000 2012, at 102. the remaining bonds at their maturity on October 1, 2018 EX 15-11 Entries for bond (held-to-maturity) investments OB). 3 Gillooly Co. purchased $360,000 of 6%, 20-year Lumpkin County bonds on May 11, Year 1, directly from the county, at their face amount plus accrued interest. The bonds pay semian- nual interest on April 1 and October 1. On October 31, Year 1, Gillooly Co. sold $90,000 of the Lumpkin County bonds at 98 plus $450 accrued interest less a $200 brokerage commission Journalize the entries to record the following: a. The purchase of the bonds on May 11 plus 40 days of accrued interest. b. Semiannual interest on October 1. c. Sale of the bonds on October 31. d. Adjusting entry for accrued interest on December 31, Year 1. e. The receipt of the face value of the remaining bonds at their maturity on April 1, Year 20. EV

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