Journalize the entries to record

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Reference no: EM133903728

Problem

Bond (held-to-maturity) investments Gillooly Co. purchased $384,000 of 8%, 20-year Lumpkin County bonds as a held-to-maturity investment on May 11, Year 1, 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, Year 1, Gillooly Co. sold $96,000 of the Lumpkin County bonds at 99 plus $640 accrued interest. Get the instant assignment help. Journalize the entries to record the following: If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar.

Reference no: EM133903728

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