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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
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Phoniex University
Oct-2001 - Nov-2016
Ex 13-3 Entries for investment in bonds, interest, and sale of bonds                     ObJ. 2 Bocelli Co. purchased $120,000 of 6%, 20-year Sanz County bonds on May 11, 2016, directly from the county, at their face amount plus accrued interest. The bonds pay semiannual
interest on April 1 and October 1. On October 31, 2016, Bocelli Co. sold $30,000 of the
Sanz County bonds at 99 plus $150 accrued interest, less a $100 brokerage  commission.
Provide journal entries for the  following:
a.    The purchase of the bonds on May 11, plus 40 days of accrued interest.
b.   Semiannual interest on October 1.
c.    Sale of the bonds on October 31.
d.   Adjusting entry for accrued interest of $1,365 on December 31, 2016.
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