Business, 15.04.2020 05:19 bryanmcmillianjr

Gonzalez Company acquired $200,000 of Walker Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $70,000 of the bonds for 97. Journalize entries to record the following in Year 1 (refer to the 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 $1,300 interest on December 31.

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Gonzalez Company acquired $200,000 of Walker Co., 6% bonds on May 1 at their face amount. Interest i...

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