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Crane Company had the following transactions pertaining to debt securities held as an investment. Jan. 1 Purchased 9 4 , 6 % , $ 1

Crane Company had the following transactions pertaining to debt securities held as an investment.
Jan. 1 Purchased 94,6%,$1,000 Novak Company bonds for $94,000 cash. Interest is payable annually on January 1.
Dec. 31 Accrued $5,640 annual interest on Novak Company bonds.
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