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    tiva1234's Avatar
    tiva1234 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jun 4, 2014, 05:25 PM
    2 Foren Corporation had the following transactions pertaining to debt investments. Ja
    Foren Corporation had the following transactions pertaining to debt investments.
    Jan. 1 Purchased 50 8%, $1,000 Choate Co. bonds for $50,000 cash plus brokerage fees of
    $900. Interest is payable semiannually on July 1 and January 1.
    July 1 Received semiannual interest on Choate Co. bonds.
    July 1 Sold 30 Choate Co. bonds for $34,000 less $500 brokerage fees.
    Instructions
    (a) Journalize the transactions.
    (b) Prepare the adjusting entry for the accrual of interest at December 31
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
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    #2

    Jun 4, 2014, 05:59 PM
    How much of A and C have you done? We don't do your homework for you.
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