This section is from the book "Elementary Banking", by John Franklin Ebersole. Also available from Amazon: Elementary Banking.
Assume the bank sold its $10,000 American Telephone & Telegraphs at 98, having purchased them at 95. The general ledger entries showing the profit made, irrespective of accrued interest, are as follows:
$300 | |
Credit: Bond Profits (33)............. | $300 |
 
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