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Jan. Floyd Limited had the following transactions pertaining to debt investments. 1, 2020 Purchased 50 1,000 Petal Co. 8% bonds for 50,000 cash and classified
Jan. Floyd Limited had the following transactions pertaining to debt investments. 1, 2020 Purchased 50 1,000 Petal Co. 8% bonds for 50,000 cash and classified as financial assets at FVTOCI. Interest is payable annually on January 1. Dec. 31, 2020 Accrued interest on the Petal Co. bonds. The market value of the bonds was $56,000 Jan. 1, 2021 Received interest on Petal Co. bonds. Then, Sold 30 Petal Co. bonds for 33,600. Instructions Journalize the transactions
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Auditing An International Approach
Authors: Wally Smieliauskas, Amy Kwan, Kathleen Cogliano, Catherine Barrette
8th Canadian Edition
1259451275, 978-1259451270
