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Addison Company purchased $1,500,000 of 10% bonds of Charles Company on January 1, 2021, paying $1,410,375, providing an effective yield of 11%. The bonds mature

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Addison Company purchased $1,500,000 of 10% bonds of Charles Company on January 1, 2021, paying $1,410,375, providing an effective yield of 11%. The bonds mature January 1, 2031; interest is received each July 1 and January 1. Addison Company uses the effective interest method and plans to hold these bonds to maturity. On July 1, 2021, Addison should increase its Debt Investments account for the Charles Company bonds by

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