Question: On January 1 2014 Nickelada Inc purchased a 4 50 000
On January 1, 2014, Nickelada Inc. purchased a 4%, $50,000 Imax bond for $46,490. Interest is to be paid semi-annually each June 30 and December 31. Nickelada Inc. is planning to hold the bond until maturity. Record the entries on January 1, 2014, and June 30, 2014, based on the partial amortization schedule shownbelow.
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