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Larkspur Corporation purchased on January 1, 2020, as a held-to-maturity investment, $47,000 of the 7%, 5-year bonds of Harrison, Inc. for $51,113, which provides a

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Larkspur Corporation purchased on January 1, 2020, as a held-to-maturity investment, $47,000 of the 7%, 5-year bonds of Harrison, Inc. for $51,113, which provides a 5% return. The bonds pay interest semiannually. Prepare Larkspur's journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and premium amortization. Assume effective-interest amortization is used (Round answers to O decimal places, es, 5,125. Credit decount titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Account Titles and Explanation Debit Credit (a) (b)

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