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What are the journal entries for January and July

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Question - On January 1, 2018, West Company purchased $600,000 of 6%, 5-year bonds, as an available-for-sale security, with interest payable on July 1 and January 1. The bonds sell for $623,625, which results in a premium of $23,625 and an effective interest of 4%. What are the journal entries for January 01 and July 01?

Reference no: EM132478915

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