Journalize the Entries to Record the Following Selected Bond Investment $\$ 400,000$

question 32

Essay

Journalize the entries to record the following selected bond investment transactions for Southwest Bank: (a) Purchased $\$ 400,000$ of Daytona Beach $5 \%$ bonds at 100 plus accrued interest of $\$ 4,500$ .
(b) Received the first semiannual interest.
(c) Sold $\$ 250,000$ of the bonds at 97 , plus accrued interest of $\$ 1,800$ .

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