Indicate the journal in which each of the following transactions should be recorded. Assume a three-column purchases journal.
Definitions:
Callable Unsecured Bonds
Bonds that can be redeemed by the issuer before their maturity date at a specified call price and are not secured by collateral.
Subordinated Debentures
Bonds that have a lower priority than other debt obligations in case of liquidation, often carrying higher risk and yield.
Bonds
Fixed income investments where an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period at an interest rate.
Promissory Notes
Written promises to pay a specified sum of money to a certain entity on demand or at a defined future time.
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