Cardinal Paz Corp. carries an account in its general ledger called Investments which contained debits for investment purchases and no credits with the
following descriptions.
a) Prepare entries necessary to classify the amounts into proper accounts assuming that all the securities are classified as available-for-sale
b) Prepare the entry to record the accrued interest and the amortization of premium on December 31 2012 using the straight-line method
c)The fair values of the investments on December 31 2012 were: d) The U.S. government bonds were sold on July 1 2013 for $119920 plus accrued interest. Give the proper entry