ch17 - 2015. Instructions: (a) Prepare the journal entry on...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Name: __________________________ Problem chapter 17 1. Investment in debt securities at discount On July 1, 2010, Sprinkle Co. purchased $120,000 of 8% bonds for $115,252.37 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1,
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 2015. Instructions: (a) Prepare the journal entry on July 1, 2010. (b) The bonds are sold on November 1, 2011 at 103 plus accrued interest. Amortization was recorded by the effective interest rate method. Prepare all entries required to properly record the sale.(show the calculation)...
View Full Document

Ask a homework question - tutors are online