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B ) On April 1 , 2 0 1 3 , Hi and Lois Company purchased 1 2 % bonds having a maturity value of

B) On April 1,2013, Hi and Lois Company purchased 12% bonds having a maturity value of $1000,000(10000 bonds) for $1,057,000 each plus accrued interest at the purchased date. They are dated January 1,2013, and mature January 1,2018, with interest receivable Jan. 1 and July 1, of each year.
Instructions
(a) Prepare the journal entry at the date of the bond purchase.
(b) Prepare partial Income statement and Balance sheet at Dec.31,2013
(c) At Sep. 1,2017 the Hi and Lois Com. Sold the bonds 105$ for
bond plus accrued interest at the date sold. Record the selling bonds entry
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