[oceaniaa19]

Jennifer Stack acquired $50,000 of Oldtown Corp. 9% bonds on July 1, 2010. The bonds were acquired at 92; interest is paid semiannually on March 1 and September 1. The bonds mature September 1, 2017. Stack's books are kept on a calendar-year basis. On February 1, 2013, Stack sold the bonds for 97 plus accrued interest.
Assuming straight-line amortization and no reversing entry at January 1, 2013, give the entry to record the sale of the bonds on February 1. Round your answers to the nearest dollar.

I have done the following journal entries which is not correct:
Cash 50,375
-Bond investment 47,209
-Gain on bond investment 2,500
-Interest revenue 543
-Interest receivable 1,209
I wonder how to calculate it, what is the different between interest revenue and inrterst receivable? Is the interest revenue generated from amortize of the bond discount?

[oscarcosio]

Jennifer Stack acquired $50,000 of Oldtown Corp. 9% bonds on July 1, 2010. The bonds were acquired at 92; interest is paid semiannually on March 1 and September 1. The bonds mature September 1, 2017. Stack's books are kept on a calendar-year basis. On February 1, 2013, Stack sold the bonds for 97 plus accrued interest.

Assuming straight-line amortization and no reversing entry at January 1, 2013, give the entry to record the sale of the bonds on February 1. Round your answers to the nearest dollar. If an amount box does not require an entry, leave it blank.

[ALECAMIKIA]

Interest recevable 50000 x 0.09 x4/12

[chocolateman123]

Well jennifer stack she can eat a bag of baby s with all I care