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On January 1, 2017, Tri-State Supply Company Purchased at Face

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On January 1, 2017, Tri-State Supply Company purchased at face value, a $1,000, 5%, bond that pays interest annually on January 1. Tri-State Company has a calendar year end. The adjusting entry on December 31, 2017, is On January 1, 2017, Tri-State Supply Company purchased at face value, a $1,000, 5%, bond that pays interest annually on January 1. Tri-State Company has a calendar year end. The adjusting entry on December 31, 2017, is

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