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In this scenario, Eagle Accounting creates the general ledger entries shown in the following table.
General Ledger Entries for Voluntary PIK Bond | ||||||
|---|---|---|---|---|---|---|
Trade Date | Accounting Date | Ledger Account | Ledger Account Description | dr amt | cr amt | Net dr cr amt |
Dec 15 2003 | Dec 15 2003 | 1007000500 | Investments Interest Receivable | 0.00 | 60,000.00 | (60,000.00) |
Dec 15 2003 | Dec 15 2003 | 1010000100 | Cost of Investments | 58,800.00 | 0.00 | 59,400.00 |
Dec 15 2003 | Dec 15 2003 | 4001000100 | Investment Interest Income | 1200.00 | 0.00 | 600.00 |
Dec 15 2003 | Dec 15 2003 | 1007000500 | Investments Interest Receivable | 1,666.67 | 0.00 | 1,666.67 |
Dec 15 2003 | Dec 15 2003 | 4001000100 | Investment Interest Income | 0.00 | 1,666.67 | (1,666.67) |