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Record all necessary journal entries

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Problem - On October 1, 2012, Renfro Co. purchased to hold to maturity, 2,000, P1,000, 9% bonds for P1,980,000 which includes P30,000 accrued interest. The bonds, which mature on February 1, 2021, pay interest semiannually on February 1 and August 1. Renfro uses the straight-line method of amortization. Record all necessary journal entries.

Reference no: EM132977764

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