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Marketable Debt Securities Use the financial statement effects template to record the accounts and amounts for the following four transactions involving investments in marketable debt
Marketable Debt Securities Use the financial statement effects template to record the accounts and amounts for the following four transactions involving investments in marketable debt securities classified as available-forsale securities. a. Loudder Inc. purchases 6,000 bonds with a face value of $1,000 per bond. The bonds are purchased at par for cash and pay interest at a semi-annual rate of 4%. b. Loudder receives semi-annual cash interest of $120,000. c. Year-end fair value of the bonds is $978 per bond. d. Shortly after year-end, Loudder sells all 6,000 bonds for $970 per bond. Use negative signs with answers, if appropriate
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