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Business, 12.08.2020 21:01 AllanCasey12

Parilo Company acquired $170,000 of Makofske Co., 5% bonds on May 1, 2016, at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, 2016, Parilo Company sold $50,000 of the bonds for 96. Journalize entries to record the following (refer to the Chart of Accounts for exact wording of account titles):
May 1 Initial acquisition of the bonds
Nov. 1 Semiannual interest received
1 Sale of the bonds
Dec. 31 Accrual of $1,000 interest

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Parilo Company acquired $170,000 of Makofske Co., 5% bonds on May 1, 2016, at their face amount. Int...

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