Unformatted text preview: example, if one of the bonds was sold for $1,050 on June 1, the entry would include a loss of $60, the difference between the cost of $1,110 ($5,550 total acquisition cost divided by 5 bonds acquired) and the proceeds of $1,050. General Journal Date Account Title and Description Ref. Debit Credit 20X1 June 1 Cash 1,050 Loss on Sale of Debt Investments 60 Debt Investments 1,110 Sale of one VEI bond...
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This note was uploaded on 11/15/2011 for the course ACCT 2310 taught by Professor Staff during the Spring '09 term at Texas State.
- Spring '09