Journalize the entries to record the following selected bond investment transactions for Southwest Bank: Apr. 1 Purchased $400,000 of Daytona Beach 4.5% bonds at 100 plus accrued interest of $4,500. July 1 Received the first semiannual interest. Sept. 1 Sold $250,000 of the bonds at 97, plus accrued interest of $1,875. If an amount box does not require an entry, leave it blank. 1.   fill in the blank 2 fill in the blank 3     fill in the blank 5 fill in the blank 6     fill in the blank 8 fill in the blank 9 2.   fill in the blank 11 fill in the blank 12     fill in the blank 14 fill in the blank 15     fill in the blank 17 fill in the blank 18 3.   fill in the blank 20 fill in the blank 21     fill in the blank 23 fill in the blank 24     fill in the blank 26 fill in the blank 27

Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter15: Investments And Fair Value Accounting
Section: Chapter Questions
Problem 4E
icon
Related questions
Question

Journalize the entries to record the following selected bond investment transactions for Southwest Bank:

Apr. 1 Purchased $400,000 of Daytona Beach 4.5% bonds at 100 plus accrued interest of $4,500.
July 1 Received the first semiannual interest.
Sept. 1 Sold $250,000 of the bonds at 97, plus accrued interest of $1,875.

If an amount box does not require an entry, leave it blank.

1.   fill in the blank 2 fill in the blank 3
    fill in the blank 5 fill in the blank 6
    fill in the blank 8 fill in the blank 9
2.   fill in the blank 11 fill in the blank 12
    fill in the blank 14 fill in the blank 15
    fill in the blank 17 fill in the blank 18
3.   fill in the blank 20 fill in the blank 21
    fill in the blank 23 fill in the blank 24
    fill in the blank 26 fill in the blank 27
   
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Investments and Financial instruments
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Financial Accounting
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,