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What is the journal entry of remy company on dec

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Bonds face value: $500,000; Coupon Rate: 12%; Market Rate: 10%. Purchased January 1, 2003, the bonds maturity date is on Jan. 1, 2006. The investment is classified as financial asset at amortized cost with interest payable semiannually on June 30 and December 31.

Problem 1: What is the journal entry of Remy Company on Dec. 31, 2004? Look for the accrued interest receivable on Dec. 31, 2004.

Reference no: EM132907502

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