Baldwin Inc is an athletic footware company that began

operations
Baldwin Inc. is an athletic footware company that began operations on January 1, 2014.The
following transactions relate to debt investments acquired by Baldwin Inc., which has a fiscal
year ending on December 31:2014Mar. 1. Purchased $50,000 of Buncombe Co. 6%, 10-year
bonds at their face amount plus accrued interest of $250. The bonds pay interest semiannually
on February 1 and August 1.16. Purchased $84,000 of French Broad 5%, 15-year bonds at their
face amount plus accrued interest of $175. The bonds pay interest semiannually on March 1
and September 1.Aug. 1. Received semiannual interest on the Buncombe Co. bonds. 31. Sold
$20,000 of Buncombe Co. bonds at 99 plus accrued interest of $100.Sept. 1. Received
semiannual interest on the French Broad bonds.Dec. 31. Accrued $750 interest on the
Buncombe Co. bonds. 31. Accrued $1,400 interest on the French Broad bonds.2015Feb. 1.
Received semiannual interest on the Buncombe Co. bonds.Mar. 1. Received semiannual
interest on the French Broad bonds.Instructions1. Journalize the entries to record these
transactions.2. If the bond portfolio is classified as available for sale, what impact would this
have on financial statement disclosure?View Solution:
Baldwin Inc is an athletic footware company that began operations
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