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Business, 13.08.2021 01:00 kmetz07

Crane Corporation had these transactions pertaining to debt investments: Jan. 1 Purchased 96 Martine Co. 10% bonds (each with a face value of $1,000) for $96,000 cash. Interest is payable annually on December 31. Dec. 31 Received annual interest on Martine Co. bonds. 31 Sold 28 Martine Co. bonds for $32,280.
a) Journalize the transactions.
b) Prepare the adjusting entry for the accrual of interest at December 31.

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