Patrick Company purchased 50 Issac Company 8%, 10-year, €1,000 bonds on January 1, 2014, for €50,000. The bonds pay interest semiannually. On January 1, 2015, after receipt of interest, Patrick Company sold 30 of the bonds for €29,500.
Instructions
Prepare the journal entries to record the transactions described above.
Correct Answer:
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