rekya mart inc. is a general merchandise retail company that began operations on january 1, year 1. the following transactions relate to debt investments acquired by rekya mart inc., which has a fiscal year ending on december 31: year 1 apr. 1 purchased $90,000 of smoke bay 6%, 10-year bonds at their face amount plus accrued interest of $900. the bonds pay interest semiannually on february 1 and august 1. may 16 purchased $42,000 of geotherma co. 4%, 12-year bonds at their face amount plus accrued interest of $70. the bonds pay interest semiannually on may 1 and november 1. aug. 1 received semiannual interest on the smoke bay bonds. sept. 1 sold $12,000 of smoke bay bonds at 101 plus accrued interest of $60. nov. 1 received semiannual interest on the geotherma co. bonds. dec. 31 accrued $1,950 interest on the smoke bay bonds. dec. 31 accrued $280 interest on the geotherma co. bonds. year 2 feb. 1 received semiannual interest on the smoke bay bonds. may 1 received semiannual interest on the geotherma co. bonds. required: 1. journalize the entries to record these transactions. for a compound transaction, if an amount box does not require an entry, leave it blank.
