On 9/30 ROI on cash is low, so buy 10% of a 4-year, 7%, $6m PA State

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On 9/30 ROI on cash is low, so buy 10% of a 4-year, 7%, $6m PA State new bond issue with a 5% market rate expecting to sell it in 2025 & 20k Pi CS shares at $20 MV (par $3) from Pi's shareholders with 80k CS shares outstanding before this purchase.

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What is the journal entry?

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Financial and Managerial Accounting

ISBN: 978-0132497978

3rd Edition

Authors: Horngren, Harrison, Oliver

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Posted Date: Apr 21, 2022 07:12 AM

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On 9/30 ROI on cash is low, so buy 10% of a 4-year, 7%, $6m PA State

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930 Cash 10 of 6m 6000... View the full answer

Financial and Managerial Accounting

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