I need help with 3 accounting problems, document attached.
Q1- AB Company purchased as a long-term investment $500,000 of BC Corporation 10-year, 9% bonds. Present entries to record the following selected transactions:
Q2- Present entries to record the following selected transactions of MT Co
Q3- On May 1, 2011, Stan Company purchased $50,000 of HR Company’s 12% bonds at 100 plus accrued interest of $2,000. On June 30, 2011, Stan received its first semiannual interest. On February 1, 2012, Stan sold $40,000 of the bonds at 103 plus accrued interest.
NOTE: please open attachament for questions full details. thank you