Chapter 1 Problem 13-5
2008
Jan. 1 Sinking fund cash 2,700,000
Cash 2,700,000
18 Sinking fund securities 2,500,000
Sinking fund cash 2,500,000
2008
July 5 Sinking fund expenses 100,000
Sinking fund cash 100,000
Sept. 9 Sinking fund cash 530,000
Loss on sale of securities 70,000
Sinking fund securities 600,000
Dec. 20 Sinking fund cash 150,000
Sinking fund income 150,000
2009
Feb. 12 No entry
Dec. 31 Sinking fund cash 270,000
Sinking fund income 270,000
31 Sinking fund cash 2,250,000
Sinking fund securities 1,900,000
Gain on sale of securities 350,000
31 Bonds payable 3,000,000
Sinking fund cash 3,000,000
31 Cash 300,000
Sinking fund cash 300,000
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