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Record all entries for transaction including end of year

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On May 1, 2021, Kelly Inc. bought $80,000, 6%, 30-year bonds, paying $86,000 plus $800 in accrued interest. The bonds are dated March 1 and pay interest on March 1 and October 1. Kelly Inc. does not intend to hold these bonds until maturity. At the end of 2021, the market value of these bonds was $81,000.

Question 1: Record all entries for this transaction including end of year adjustment. Show details.

Reference no: EM132606744

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