Solution-Journalize the listed transactions for the years

Journalize the listed transactions for the years

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Reference no: EM132937617

Question - Cullumber Carecenters Inc. provides financing and capital to the healthcare industry, with a particular focus on nursing homes for the elderly. The following selected transactions relate to bonds acquired as an investment by Cullumber, whose fiscal year ends on December 31.

Jan. 1 Purchased at face value $1,089,000 of Javier Nursing Centers, Inc., 10-year, 5% bonds dated January 1, 2017, directly from Javier.

Dec. 31 Accrual of interest at year-end on the Javier bonds.

(Assume that all intervening transactions and adjustments have been properly recorded and that the number of bonds owned has not changed from December 31, 2020, to December 31, 2022.)

Jan. 1 Received the annual interest on the Javier bonds.

Jan. 1 Sold $544,500 Javier bonds at 107.

Dec. 31 Accrual of interest at year-end on the Javier bonds.

Required - Journalize the listed transactions for the years 2020 and 2023.

Reference no: EM132937617

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Journalize the listed transactions for the years

Reference no: EM132937617

Reference no: EM132937617

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