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Prepare the entries B should make

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Question - On 03-01-18, B purchased $500,000 of 6% bonds that mature on 03-01-23 for $503,000. B will receive interest every 03-01 and 09-01. B does NOT have the intent and ability to hold the bonds until maturity, however, B does NOT plan to sell these bonds within the next 12 months. The bonds were trading at 101 on 12-31-18. On 05-01-19, B sold the bonds @ 101.5 plus interest. These bonds are B's only investment in debt securities. B only prepares AJEs every 12-31. Prepare the entries B should make on:

a. 03-01-18.

b. 09-01-18.

c. 12-31-18.

d. 03-01-19.

e. 05-01-19.

Reference no: EM132482182

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