3. On March 1, she also purchased $10,000 (face value), 7% city of Newark bonds at 102 plus accrued interest. The bonds pay interest on June 1 and December 1. The bonds mature on December 1 of the...


3. On March 1, she also purchased $10,000 (face value), 7% city of Newark bonds at 102 plus accrued interest. The bonds pay interest on June 1 and December 1. The bonds mature on December 1 of the next year.


4. On April 1, she received a check for the interest on the Detroit bonds.


5. On June 1, she received a check for the interest on the Newark bonds.


6. On September 1, she sold the Detroit bonds at 101, plus accrued interest.


Prepare journal entries to record each of these events. Use the straight-line method of amortization where applicable.



May 02, 2022
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