Maxim Corporation had the following transactions pertaining to debt investments.
Jan 1 Purchased 80, 8%o, $1,000 Woodrow Company bonds for $80,000, plus brokerage fees of $800.
July 1 Sold 20 Woodrow Company bonds for $22,000, less $300 brokerage fees.
Instructions
Prepare journal entries for the purchase and sale of the Woodrow Company bonds.
DATE
1 Jan
DEDIT
CREDIT
1 Juiy
DEBIT
CREDIR