On May 1, 2010, J. Cumming acquired $300,000 of Carpenter Enterprises 12 percent bonds due in five years with interest payable semiannually on May 1 and November. The bonds were purchased at $323,165--a price to return 10 percent on the investment. On November 1, 2010, and May 1, 2011, Cumming collected the interest on the bonds. On August 1, 2011, Cumming sold the bonds at 107 plus accrued interest.
Rounding figures to the nearest dollar, provide the entries required to record the:

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The Answer of On May 1, 2010, J. Cumming acquired $300,000 of Carpenter Enterprises 12 percent bonds due in five years with interest payable semiannually on May 1 and November. The bonds were purchased at $323,165--a price to return 10 percent on the investment. On November 1, 2010, and May 1, 2011, Cumming collected the interest on the bonds. On August 1, 2011, Cumming sold the bonds at 107 plus accrued interest.
Rounding figures to the nearest dollar, provide the entries required to record the: