general accounting 497313
AC company. purchased $24,000 of 4%, 10-year DCshoe bonds on July 12, 2012, directly from the county at par value. The bonds pay semiannual interest on May 1 and November 1. On December 1, 2012, AC company. sold $6,000 of the DCshoe bonds at 98 plus $20 accrued interest, less a $100 brokerage commission. Assume a 360-day year.
1- Provide the journal entry for the purchase of the bonds on July 12, plus 72 days of accrued interest.
Don't use plagiarized sources. Get Your Custom Essay on
general accounting 497313
For $10/Page 0nly
investement DC=
interest receivable=
cash=
2. Provide the journal entry for semiannual interest on November 1.
cash=
interest receibalbe=
interect revenue=
3. Provide the journal entry for sale of the bonds on December 1.
cash=
loss on sale =
interest revenue=
invenstement in DCshoe=
4. Provide the adjusting entry for accrued interest of $120 on December 31, 2012.
=
=
Calculator
Our features
We've got everything to become your favourite writing service
Money back guarantee
Your money is safe. Even if we fail to satisfy your expectations, you can always request a refund and get your money back.
Confidentiality
We don’t share your private information with anyone. What happens on our website stays on our website.
Our service is legit
We provide you with a sample paper on the topic you need, and this kind of academic assistance is perfectly legitimate.
Get a plagiarism-free paper
We check every paper with our plagiarism-detection software, so you get a unique paper written for your particular purposes.
We can help with urgent tasks
Need a paper tomorrow? We can write it even while you’re sleeping. Place an order now and get your paper in 8 hours.
Pay a fair price
Our prices depend on urgency. If you want a cheap essay, place your order in advance. Our prices start from $11 per page.