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Prepare komiko journal entries for purchase of investment

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Reference no: EM132953944

Komiko corporation pirchased trading investment bonds for $33,000 at par. At December 31, Komiko received annual interest of $1,720

Problem 1: Prepare komiko journal entries for (a) the purchase of the investment (b) the interest received and (c) the fair value adjustment. (Assume a zero balance in the fair value adjustment account.

Reference no: EM132953944

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