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What entry should fowler make to record the purchase

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Question - Flower Co. purchased $1,000,000 of 8%, 5-year bonds from Ritter, Inc. on May 1, 2012, plus accrued interest with interest payable on July 1 and January 1. The bonds sold for $1,041,580 at an effective interest rate of 7%. What entry should Fowler make to record the purchase of the bonds on May 1, 2012?

Reference no: EM133143227

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