Question: Using the data presented in BE16-5, assume Strand Corp. is a public company and that it purchased Hydrocor's bonds for trading purposes. Prepare the journal

Using the data presented in BE16-5, assume Strand Corp. is a public company and that it purchased Hydrocor's bonds for trading purposes. Prepare the journal entries to record
(a) The purchase of the bonds on June 30, 2017;
(b) The receipt of the first interest payment on December 31, 2017;
(c) Any required adjusting journal entries on December 31, 2017.

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