On January 2, Westies Company purchased 30, 10%, $1,000 Boswell Company bonds for $30,000 cash, Interest is payable semiannually on July 1 and January 1. On July 1, the company received a semiannual interest payment on the Boswell Company bonds. Journalize the entries to record the purchase of the bonds and the receipt of the interest payment.

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The Answer of On January 2, Westies Company purchased 30, 10%, $1,000 Boswell Company bonds for $30,000 cash, Interest is payable semiannually on July 1 and January 1. On July 1, the company received a semiannual interest payment on the Boswell Company bonds. Journalize the entries to record the purchase of the bonds and the receipt of the interest payment.

On January 2, Westies Company Purchased 30, 10%, $1,000 Boswell