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Exercise 17-3 On January 1, 2017, Skysong Company purchased 10% bonds having a maturity value of $300,000, for $323,955.30. The bonds provide the bondholders with
Exercise 17-3 On January 1, 2017, Skysong Company purchased 10% bonds having a maturity value of $300,000, for $323,955.30. The bonds provide the bondholders with a 8% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Skysong Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category Prepare the ournal entry at the date of the bond purchase. (Enter answers to 2 deci a places e.9-2.525 25 Credit acco ant ti es are automaticamented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Jan. 1, 2017 SHOW LIST OF ACCOUNTS LINK TO TEX
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