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Journalize entries to record bond investment transactions

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Reference no: EM132692213

Problem - Journalize the entries to record the following selected bond investment transactions for Fly Company:

1. Purchased for cash $40,000 of Tyler Company 10% bonds at 100 plus accrued interest of $500.

2. Received the first semiannual interest.

3. Sold $30,000 of the bonds at 102 plus accrued interest of $110.

Reference no: EM132692213

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