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14. Emraan Corporation had the following transactions pertaining to debt investments. Jan. 1 Purchased 30, $1,000 Hillary Co. 10% bonds for $30,000, plus brokerage
14. Emraan Corporation had the following transactions pertaining to debt investments. Jan. 1 Purchased 30, $1,000 Hillary Co. 10% bonds for $30,000, plus brokerage fees of $900. Interest is payable semiannually on July 1 and January 1. July 1 Received semiannual interest on Hillary Co. bonds. July 1 Sold 15 Hillary Co. bonds for $15,000, less $400 brokerage fees. Instructions: Journalize the transaction
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Financial Reporting & Analysis Using Financial Accounting Information
Authors: Charles H. Gibson
11th edition
324657420, 978-0324657425
