Rentz Company held a bond investment with a face value of $230,400. The company decided to sell the bonds on April 15, 2012, at a quoted price of 104.5. On that date the carrying value of the bonds was $231,520. The sale is subject to a brokerage commission of $1,152.
Prepare the journal entry on April 15, 2012, for the sale of the bond investment. (Ignore accrued interest.)

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The Answer of Rentz Company held a bond investment with a face value of $230,400. The company decided to sell the bonds on April 15, 2012, at a quoted price of 104.5. On that date the carrying value of the bonds was $231,520. The sale is subject to a brokerage commission of $1,152.
Prepare the journal entry on April 15, 2012, for the sale of the bond investment. (Ignore accrued interest.)

Rentz Company Held a Bond Investment with a Face Value