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Can I get help with number 4? 3. (4.5 pts.) On 1/1/2021, Ying & Yang Company purchased 12% bonds having a maturity value of $300,000
Can I get help with number 4?
3. (4.5 pts.) On 1/1/2021, Ying \& Yang Company purchased 12% bonds having a maturity value of $300,000 for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1,2021 , and mature January 1 , 2026, with interest received on January 1 each year. The company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. Prepare the journal entries: al tha murrhare nfthe inuicrtmant 4. (4 pts.) Assume the same information as Problem H3 except that the securities are classified as available-for-sale. The fair value of the bonds at December 31 of each year-end ais as follows: 2021:$320,5002022:$309,0002023:$308,0002024:$310,0002025:$300,000 Step by Step Solution
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