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Hilton Company purchased $345,000 of 8% of Marlin Company on Jan 1 2020, at a discount $ 306,747. The bonds mature December 31, 2024

Hilton Company purchased $345,000 of 8% of Marlin Company on Jan 1 2020, at a discount $ 306,747. The bonds

Hilton Company purchased $345,000 of 8% of Marlin Company on Jan 1 2020, at a discount $ 306,747. The bonds mature December 31, 2024 and the market rate = 11% ; interest is payable each December 31. Instructions: 1. Record the investment in the book of Hilton Company. 2. Record the issued bonds payable in the book of Marling Company. -bought on Discount

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