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Prepare the July journal entry to record the purchase

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Problem - On July 1, 2019, Wolfpack Corporation purchased securities which it intends to buy and sell frequently. These securities consisted of Todd Corporation 10%, 5-year bonds with a face value of $20,000 which were purchased for $18,500. Prepare the July 1 journal entry to record the purchase of these trading securities.

Reference no: EM132887766

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