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What is the interest income for the year

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Question - On Feb. 1, 2021, ABC purchased $2,000,000 face value bonds at 97 plus accrued interest. It was acquired for trading purposes and is accounted as FA-FV-PL. The bonds mature on Sept. 1, 2023. Interest at 8% per annum is paid every Mar. 31 and Sept. 1. On Dec, 31, 2021, the bonds were selling at 96. What is the interest income for the year?

Reference no: EM132905999

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