Wall Company purchased $1,200,000, 7 percent bonds issued by Janice Company on January 1, 2010. The purchase

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Wall Company purchased $1,200,000, 7 percent bonds issued by Janice Company on January 1, 2010. The purchase price of the bonds was $1,250,000. Interest is payable semiannually each June 30 and December 31. Record the purchase of the bonds on January 1, 2010.


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