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Prepare Concord journal entries for purchase of investment

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Question - Concord Company purchased on January 1, 2020, as a held-to-maturity investment, $111,000 of the 6%, 6-year bonds of Harrison, Inc. for $100,583, which provides a 8% return. The bonds pay interest semiannually. Prepare Concord's journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and discount amortization. Assume effective-interest amortization is used.

Reference no: EM132597350

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