Kingbird Corporation purchased on January 1, 2020, as a held-to-maturity investment, $50,000 of the 10%, 6-year bonds of Harrison, Inc. for $54,693, which provides a 8% return. The bonds pay interest...

Kingbird Corporation purchased on January 1, 2020, as a held-to-maturity investment, $50,000 of the 10%, 6-year bonds of Harrison, Inc. for $54,693, which provides a 8% return. The bonds pay interest semiannually.

Prepare Kingbird’s journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and premium amortization. Assume effective-interest amortization is used.
(Round answers to 0 decimal places, e.g. 5,125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
(a)	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
(b)	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount

Jun 11, 2022

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Kingbird Corporation purchased on January 1, 2020, as a held-to-maturity investment, $50,000 of the 10%, 6-year bonds of Harrison, Inc. for $54,693, which provides a 8% return. The bonds pay interest...

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