=+May 1. Purchased $60,000 of Elkin City 4%, 10-year bonds at face value plus accrued interest of

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=+May 1. Purchased $60,000 of Elkin City 4%, 10-year bonds at face value plus accrued interest of $400. The bond is classified as an available-for-sale investment. The bonds pay interest semiannually on March 1 and September 1.

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Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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