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Following are the non - strategic investment transactions of Corona Inc: - 2 0 2 3 Jan. 1 Purchased for $ 9 1 , 1
Following are the nonstrategic investment transactions of Corona Inc:
Jan. Purchased for $ an $ bond that matures in years from Hanna Corporation when the market interest rate
was There was a $ transaction fee included in the abovenoted payment amount. Interest is paid semiannually
beginning June The acquisition was made with intention to hold to maturity.
June Received interest on the Hanna bond.
July Paid $ for a Trust Inc. bond with a par value of $ and a fifteenyears term. The bond pays interest
quarterly beginning September at the annual rate of ; the market interest rate on the date of purchase was
There was a $ transaction fee included in the abovenoted payment amount.
Sept. Received interest on the Trust bond.
Dec. Received interest on the Hanna and Trust bonds.
The fair values of the bonds on this date equalled the fair values.
Required:
For each of the bond investments, prepare an amortization schedule showing only and Round your intermediate and
final answers to the nearest whole dollar amount. Enter all the amounts as positive values. Prepare the entries to record the transactions described above. Enter all the amounts as positive values. Do not round intermediate calculations and round your final answers to the nearest dollar. Show how the investments would be reported on Coronas December balance sheet. Do not round intermediate calculations and round your final answer to the nearest dollar. Use effective interest rate method for all
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