Solution-Prepare flounder journal entry for the purchase

Prepare flounder journal entry for the purchase

Reference no: EM133072405

Question - Flounder Corporation purchased, as a held-for-collection investment, $44,000 of the 7%, 5-year bonds of Harrison, Inc. for $45,876, which provides a 6% return. The bonds pay interest semiannually. Prepare Flounder's journal entry for the purchase of the investment.

Reference no: EM133072405

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Prepare flounder journal entry for the purchase

Reference no: EM133072405

Reference no: EM133072405

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