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Journalize the transactions for blossom corporation

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Reference no: EM132718401

Blossom Corporation had the following transactions pertaining to debt investments.

1. Purchased 40 8%, $2,000 Leeds Co. bonds for $80,000 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 $66,000 on January 1, 2021.

Problem 1: Journalize the transactions.

Reference no: EM132718401

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