Demopoulos Company acquired $145,800 of Marimar Co., 8% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $43,800 of the bonds for 95. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. a. The initial acquisition of the bonds on May 1. May 1 b. The semiannual interest received on November 1. Nov. 1 c. The sale.of the bonds on November 1. Nov. 1
Demopoulos Company acquired $145,800 of Marimar Co., 8% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company sold $43,800 of the bonds for 95. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. a. The initial acquisition of the bonds on May 1. May 1 b. The semiannual interest received on November 1. Nov. 1 c. The sale.of the bonds on November 1. Nov. 1
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter22: Corporations: Bonds
Section: Chapter Questions
Problem 3SEA
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![Entries for bond (held-to-maturity) investments
Demopoulos Company acquired $145,800 of Marimar Co., 8% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company
sold $43,800 of the bonds for 95.
Journalize the entries to record the following:
If an amount box does not require an entry, leave it blank.
a. The initial acquisition of the bonds on May 1.
May 1
b. The semiannual interest received on November 1.
Nov. 1
C. The sale of the bonds on November 1.
Nov. 1
d. The accrual of $1,360 interest on December 31.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2eab21cb-1cbc-4339-9c62-335ff85c7618%2F0fd1356e-5143-437b-851f-d4d5206ec759%2Fpa6ponp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Entries for bond (held-to-maturity) investments
Demopoulos Company acquired $145,800 of Marimar Co., 8% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Demopoulos Company
sold $43,800 of the bonds for 95.
Journalize the entries to record the following:
If an amount box does not require an entry, leave it blank.
a. The initial acquisition of the bonds on May 1.
May 1
b. The semiannual interest received on November 1.
Nov. 1
C. The sale of the bonds on November 1.
Nov. 1
d. The accrual of $1,360 interest on December 31.
![Journalize the entries to record the following:
If an amount box does not require an entry, leave it blank.
a. The initial acquisition of the bonds on May 1.
May 1
b. The semiannual interest received on November 1.
Nov. 1
c. The sale of the bonds on November 1.
Nov. 1
d. The accrual of $1,360 interest on December 31.
Dec. 31](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2eab21cb-1cbc-4339-9c62-335ff85c7618%2F0fd1356e-5143-437b-851f-d4d5206ec759%2Fjubhosd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Journalize the entries to record the following:
If an amount box does not require an entry, leave it blank.
a. The initial acquisition of the bonds on May 1.
May 1
b. The semiannual interest received on November 1.
Nov. 1
c. The sale of the bonds on November 1.
Nov. 1
d. The accrual of $1,360 interest on December 31.
Dec. 31
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