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Patterson Company had the following transactions pertaining to debt securities held as an investment.---------Jan.1Purchased 90, 6%, $1,000 MarksCompanybondsfor $90,000 cash plusbrokeragefees of $950. Interest is payable semiannually on July 1 and January 1.-----------------------July1Received semiannual interest on Marks Company bonds.--------------Oct.1Sold 45 Marks Company bonds for $46,400 plusaccruedinterestless $500 brokerage fees.A. journalize the transactions b. prepare the adjusting entry for accrual interest on dec 31
Financial Statement Analysis and Preparation
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