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

Question 32

Essay

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

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