The company purchased the following instruments: Feb 1, 2022 Purchased at 101 a $ 15,000, 5% 5-year

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The company purchased the following instruments:

Feb 1, 2022

Purchased at 101 a $ 15,000, 5% 5-year Laurentian Bank of Canada bond. Interest is paid semi-annually. The market rate of interest was 3.5%. The bonds were purchased to trade.

Aug 1, 2022

Received interest on the bond.

Aug 2, 2022

Sold the bond at 99.

Required:

Record the above transactions.

Posted Date: Oct 21, 2021 10:52 PM

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The company purchased the following instruments: Feb 1, 2022 Purchased at 101 a $ 15,000, 5% 5-year

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Feb 1 Investment in bonds Ac Dr 15000 Premium on bonds Ac Dr 150 Cash Ac Cr 15150 Aug 1 Cash Ac Dr 3... View the full answer

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