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1.
2. On April 1, semiannual interest is
received.
3. On July 1, 9% bonds of Sampson, Inc. were purchased. These bonds
with a par value of $200,000 were purchased at 100 plus accrued interest.
Interest dates are June 1 and December
1.
4. On September 1, bonds with a par value of $60,000, purchased on
February 1, are sold at 99 plus accrued
interest.
5. On October 1, semiannual interest is
received.
6. On December 1, semiannual interest is
received.
7. On December 31, the fair value of the bonds purchased February 1
and July 1 are 95 and 93,
respectively.
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ACC 537 Week 5 Textbook Problem P20-1
Cunningham/Harrington Company
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