Purchased for cash $130,000 of Jackson, Inc. 10% bonds at 100 plus accrued interest of $3,000. DATE   Debit Credit X/X                                         b) Received first semiannual interest payment. DATE   Debit Credit X/X                                         c) Sold $60,000 of the bonds at 102 plus accrued interest of $600. DATE   Debit Credit X/X

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter9: Long-term Liabilities
Section: Chapter Questions
Problem 7MCQ
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Purchased for cash $130,000 of Jackson, Inc. 10% bonds at 100 plus accrued interest of $3,000.

DATE

 

Debit

Credit

X/X

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

b) Received first semiannual interest payment.

DATE

 

Debit

Credit

X/X

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

c) Sold $60,000 of the bonds at 102 plus accrued interest of $600.

DATE

 

Debit

Credit

X/X

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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