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