Reference no: EM133175589
Question - Oriole 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 Oriole, whose fiscal year ends on December 31.
2022
Jan. 1 Purchased at face value $2,230,000 of Javier Nursing Centers, Inc., 10-year, 5% bonds dated January 1, 2022, 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 the number of bonds owned has not changed from December 31, 2022, to December 31, 2024.
2025
Jan. 1 Received the annual interest on the Javier bonds.
Jan. 1 Sold $1,115,000 Javier bonds at 107.
Dec. 31 Accrual of interest at year-end on the Javier bonds.
Required - Journalize the listed transactions for the years 2022 and 2025.
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