{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T05:07:20-04:00", "answer_date": "2024-05-27 05:07:20", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1779301", "url": "\/study-help\/questions\/-1779301", "question_creation_date_js": "2024-05-27T05:07:20-04:00", "question_creation_date": "May 27, 2024 05:07 AM", "meta_title": "[Solved] The company acquired as a long - term inv | SolutionInn", "meta_description": "Answer of - The company acquired as a long - term investment $ 2 4 0 , 0 0 0 of 6 % bonds, dated July 1 , on July 1 , 2 0 2 3 . Co | SolutionInn", "meta_keywords": "company,acquired,long,-,term,investment,$,2,4,6,bonds,dated", "question_title_h1": "The company acquired as a long - term investment $ 2 4 0 , 0 0 0 of 6 % bonds, dated July 1 ,", "question_title": "The company acquired as a long - term investment $ 2 4", "question_title_for_js_snippet": "The company acquired as a long term investment $ 2 4 0 , 0 0 0 of 6 bonds, dated July 1 , on July 1 , 2 0 2 3 Company management has the positive intent and ability to hold the bonds until maturity The market interest rate ( yield ) was 8 for bonds of similar risk and maturity The company paid $ 2 0 0 , 0 0 0 for the bonds and will receive interest semiannually on June 3 0 and December 3 1 As a result of changing market conditions, the fair value of the bonds at December 3 1 , 2 0 2 3 , was $ 2 1 0 , 0 0 0 The entry for interest expense has not been recorded yet Required 1 2 Prepare the journal entry to record Mills investment in the bonds on July 1 , 2 0 2 3 and interest on December 3 1 , 2 0 2 3 at the effective ( market ) rate 3 At what amount will Mills report its investment in the December 3 1 , 2 0 2 3 balance sheet ", "question_description": "