Question: On April 30 2016 Aggie Corporation purchased available for sale securities These
On April 30, 2016, Aggie Corporation purchased available-for-sale securities. These securities consisted of (a) Smith Corporation 10%, 5-ycar bonds with a face value of $12,000 which were purchased at par plus four months of accrued interest and (b) 300 shares of Bike Company common stock which were purchased at $20 per share. Prepare the April 30 journal entry to record the purchase of these available-for-sale securities.
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