Pincher Company purchased 50 Issac Company 12% 10-year $1000 bonds on January 1 2017 for $50000. The bonds pay interest semiannually on January 1. On January 1 2018 after receipt of interest Pincher Company sold 30 of the bonds for $28300.
Instructions
Prepare the journal entries to record the transactions described above.

Question

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The Answer of Pincher Company purchased 50 Issac Company 12% 10-year $1000 bonds on January 1 2017 for $50000. The bonds pay interest semiannually on January 1. On January 1 2018 after receipt of interest Pincher Company sold 30 of the bonds for $28300.
Instructions
Prepare the journal entries to record the transactions described above.

Pincher Company Purchased 50 Issac Company 12% 10-Year $1000 Bonds