Give the entry to record the sale of the bonds on february

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Reference no: EM131959812

Jennifer Stack acquired $50,000 of Oldtown Corp. 9% bonds on July 1, 2015. The bonds were acquired at 92; interest is paid semiannually on March 1 and September 1.

The bonds mature September 1, 2022. Stack's books are kept on a calendar-year basis. On February 1, 2018, Stack sold the bonds for 97.

Assuming straight-line amortization, give the entry to record the sale of the bonds on February 1. Show all work. (Note: Round to the nearest dollar.)

Reference no: EM131959812

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