Purchase of a bond worth 240m market interest rate was 8% and bond interest rate was 6%.
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Purchase of a bond worth 240m market interest rate was 8% and bond interest rate was 6%. It was bought July 1 and paid semi annually, at December 31 its amortized cost was 200.8 million while its fair value was 210 million. And you had to make internet journal entry and purchase journals entry and adjustment and also the bond was classified as trading.
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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