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Garfield Company made an investment in 80,000 of the 9%, 5-year bonds of Chester Corporation for 74,086, which provides an 11% return. Garfield plans to

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Garfield Company made an investment in 80,000 of the 9%, 5-year bonds of Chester Corporation for 74,086, which provides an 11% return. Garfield plans to hold these bonds to collect contractual cash flows. the credit side of Garfield's journal entry for the purchase of the investment will be: Cr Debt Investments 74,086 Select one: True False

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