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Question
Journalize the entries for the following selected bond investment transactions for Southwest Bank:
Apr. 1 Purchased $400,000 of Daytona Beach 4.5% bonds at 100 plus accrued interest of $4,500.
July 1 Received the first semiannual interest payment.
Sept. 1 Sold $250,000 of the bonds at 97, plus accrued interest of $1,875.
Answer
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