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The purchase of the investment

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1. Use the information from BE17-1, but assume the bonds are purchased as an available-for-sale security. Prepare Garfield's journal entries for 

(a) The purchase of the investment, 

(b) The receipt of annual interest and discount amortization, and 

(c) The year-end fair value adjustment. The bonds have a yearend fair value of $75,500. 

Reference no: EM131116103

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