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How to journalize the transaction

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Reference no: EM132718529

Question - Carla Vista Corporation had the following transactions pertaining to debt investments.

1. Purchased 40 8%, $1,550 Leeds Co. bonds for $62,000 cash. Interest is payable annually on January 1, 2020.

2. Accrued interest on Leeds Co. bonds on December 31, 2020.3.Received interest on Leeds Co. bonds on January 1, 2021.4.Sold 30 Leeds Co. bonds for $51,150 on January 1, 2021.

Required - How to journalize the transaction.

Reference no: EM132718529

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