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Prepare AAA journal entries for receipt of annual interest

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Question - AAA purchased, on January 1, 2020, $80,000 of 9%, 5-year bonds of BBB for $74,086, which provides an 11% return. The bonds pay interest annually. Effective-interest amortization is used. When the bonds are purchased as a held-to-maturity investment, prepare the AAA's journal entries for the receipt of annual interest and discount amortization in 2020.

Reference no: EM132526793

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