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Journalize 26. Purchased 12% bonds, having a maturity value of $705,000, for $522,744. The bonds provide the bondholders with a 10% yield. They are dated
Journalize 26. Purchased 12% bonds, having a maturity value of $705,000, for $522,744. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2006, and mature January 1, 2011, with interest receivable December 31 of each year. Hi and Lois Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category
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