On May 1, 2010, Edsel, Inc.bought 300 of DeSoto, Inc.'s $1, 000, 10% bonds that pay interest on January 1 and July 1.They were bought at 101 plus accrued interest.On December 1, 2010, 60 of the bonds were sold at 106.Edsel classified the bonds as securities available for sale.
Required:
Journalize the sale on December 1, 2010.
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