On march 1 2010 chase inc purchases 60000 of 10-year 8

Reference no: EM13579567

On March 1, 2010, Chase Inc. purchases $60,000 of 10-year, 8% bonds on their issuance date directly from Manus Corporation at $51,600 as a held-to-maturity investment. What adjusting entry would Chase make to record accrued interest on December 31, 2010, assuming that interest is paid annually on February 28?

Reference no: EM13579567

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