help On 1 November 20X3, Orange Company purchases bonds with a face value of $400,000 from Yellow Company. The bonds have an 6% coupon and mature on 31 December20X8. The bonds were purchased at 100 plus accrued interest. Interest is paid semi-annually on 30 June and 31 December. Yellow Company classifies this investment as an ACinvestment based on its investment objectives.Prepare the journal entries on the following dates:1 November 20X331 December 20X331 December 20X8Prepare the journal entry to record the purchase of bonds 1 November 20X3:Prepare the journal entry to record receipt of coupon on 31 December 20X3:Prepare the journal entry to record the investment at maturity on 31 December 20X8Prepare the journal entry required assuming that Orange company sold the bonds on 31 March 20X4 at 104 plus accrued interest. Orange paid $600 in transaction fees tocomplete the sale.Prepare the journal entry to record the sale of the bonds on 31 March 20X4:

In the present case accounting to investment in bond has been discussed, how to record the different…

X8. The bonds were purchased at 100 plus accrued interest. Interest is paid semi-annually on 30 June and 31 December. Yellow Company classifies this investment as vestment based on its investment objectives. repare the journal entries on the following dates: November 20X3 December 20X3 December 20X8 epare the journal entry to record the purchase of bonds 1 November 20X3: epare the journal entry to record receipt of coupon on 31 December 20X3: epare the journal entry to record the investment at maturity on 31 December 20X8 epare the journal entry required assuming that Orange company sold the bonds on 31 March 20X4 at 104 plus accrued interest. Orange paid $600 in transaction fees omplete the sale. epare the journal entry to record the sale of the bonds on 31 March 20X4:

X8. The bonds were purchased at 100 plus accrued interest. Interest is paid semi-annually on 30 June and 31 December. Yellow Company classifies this investment as vestment based on its investment objectives. repare the journal entries on the following dates: November 20X3 December 20X3 December 20X8 epare the journal entry to record the purchase of bonds 1 November 20X3: epare the journal entry to record receipt of coupon on 31 December 20X3: epare the journal entry to record the investment at maturity on 31 December 20X8 epare the journal entry required assuming that Orange company sold the bonds on 31 March 20X4 at 104 plus accrued interest. Orange paid $600 in transaction fees omplete the sale. epare the journal entry to record the sale of the bonds on 31 March 20X4:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 4EA: On January 1, 2018, Wawatosa Inc. issued 5-year bonds with a face value of $200,000 and a stated...

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