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    Journalize the transactions Accounting

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    4. Milner Corporation had the following transactions pertaining to debt investments.

    Jan. 1 Purchased 60, 8%, $1,000 Welch Company bonds for $60,000, plus brokerage fees of $800.
    July 1 Sold 20 Welch Company bonds for $18,000, less $400 brokerage fees.
    Instructions:Prepare journal entries for the purchase and sale of the Welch Company bonds..

    Journalize the transactions.

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    https://brainmass.com/business/accounting/journalize-transactions-accounting-352151

    Solution Summary

    The solution explains the journal entries relating to debt investments.

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