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Provide the entry to record purchase of the bonds on august

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Reference no: EM132513113

On August 1, 2017, Mrarley Inc. acquired $180,000 (face value) 10% bonds of Robenson Corporation at 104 plus accrued interest. The bonds were dated May 1, 2017, and mature on April 30, 2020, with interest payable each October 31 and April 30. The bonds will be held to maturity. Assume the amortized cost model is used.

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Question 1: Provide the entry to record the purchase of the bonds on August 1, 2017

Reference no: EM132513113

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