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Green Co. purchased 80, 6% Black Company bonds for $120,000 cash. Interest is payable annually on January 1. If 30 of the securities are sold

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Green Co. purchased 80, 6% Black Company bonds for $120,000 cash. Interest is payable annually on January 1. If 30 of the securities are sold on May 1 for $48,000 plus accrued interest, the entry would include a credit to Gain on Sale of Debt Investments for $

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