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Astro Mile & Co. owns vast amounts of corporate bonds. Suppose Astro Mile buys Requirements $1,400,000 of CoteCorp bonds at face value on January 2,

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Astro Mile & Co. owns vast amounts of corporate bonds. Suppose Astro Mile buys Requirements $1,400,000 of CoteCorp bonds at face value on January 2, 2016. The CoteCorp bonds pay interest at the annual rate of 6% on June 30 and December 31 and mature on December 1. Journalize any required 2016 entries for the bond investment 2. How much cash interest will Astro Mile receive each year from CoteCorp? 3. How much interest revenue will Astro Mile report during 2016 on this bond investment? 31, 2030. Astro Mile intends to hold the investment until maturity

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