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Make journal entry to record the purchase of the bonds

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Reference no: EM132531440

An entity purchases $200,000 of semi annual, 6% , 15 year bonds for $212,230. The fair value of the bonds at december 31, 2020 is $210,000 and t december 31, 2021 is $216,000. interest payments are on june 30 and december 31. the yield on the bond is 5.4%.

Question 1: Record the journal entry to record the purchase of the bonds on december 31. Using debt investments as the debit and cash as the credit.

Question 2: The journal entry to record the interest at June 30th, 2020 includes a what

Reference no: EM132531440

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