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Prepare carows journal entries for purchase of investment

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Reference no: EM13525328

Carow Corporation purchased, as a held-to-maturity investment, $60,000 of the 8%, 5-year bonds of Harrison, Inc. for $65,118, which provides a 6% return. The bonds pay interest semiannually.

Prepare Carows' journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and premium amortization.

Reference no: EM13525328

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