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Astro Mile & Co. owns vast amounts of corporate bonds. Suppose Astro Mile buys $500,000 of RoastCo bonds at face value on January 2, 2018.
Astro Mile & Co. owns vast amounts of corporate bonds. Suppose Astro Mile buys $500,000 of RoastCo bonds at face value on January 2, 2018. The RoastCo bonds pay interest at the annual rate of 4% on June 30 and December 31 and mature on December 31, 2022. Astro Mile intends to hold the investment until maturity. Read the requirements Requirement 1. How would the bond investment be classified on Astro Mile's December 31, 2018, balance sheet? Requirements The RoastCo bond investment will be classified as a as of December 31, 2018. 1. How would the bond investment be classified on Astro Mile's December 31, 2018, balance sheet? 2. Journalize the foll wing on Astro Mile's books: a. Receipt of final interest payment on December 31, 2022. b. Disposition of the investment at maturity on December 31, 2022 Print Done
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