Business, 29.12.2021 21:40 criser1987zach

Cullumber Corporation had these transactions pertaining to debt investments Jun. 1 Purchased 92 Martine Co. 11% bonds (each with a face value of $1,000) for $92,000 cash. Interest is payable annually on December 31.
Dec. 31 Received annual interest on Martine Co. bonds.
31 Sold 28 Martine Co. bonds for $31,010.
Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 113 Debt Investments 83000 Cash 83000 July 14 Cash 4150 4150 Interest Revenue (To record interest) July 14 Cash 34110 28000 Debt Investments 6110 Gain on Sale of Debt Investments To record sale of bonds) Your answer is partially correct. Try again. Prepare the adjusting entry for the accrual of interest at December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Receivable Interest Revenue

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Cullumber Corporation had these transactions pertaining to debt investments Jun. 1 Purchased 92 Ma...

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