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Prepare journal entry to record the initial investment

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Question - Cisco Computing invested an additional 100000 face amount of 10 year bonds issued by Waco Micro Chip Company on Jan 1 20x1. The bonds were purchased at 95 and bear interest at standard rate of 7%per annum, payable semiannually. The discount will be amortized on straight line bases. Prepare journal entry to record the initial investment on Jan 20x1. Prepare the journal entry that Devol would record on each interest date.

Reference no: EM132486979

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