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Note: When answering the following questions, round answers to the nearest whole dollar. a. Prepare a bond amortization schedule for the year using the effective
Note: When answering the following questions, round answers to the nearest whole dollar. a. Prepare a bond amortization schedule for the year using the effective interest method. classified as available-for-sale securities. The annual reporting period of Jules Company ends December 31 . Assume the effective interest method of amortization of any discounts or premiums. Note: When answering the following questions, round answers to the nearest whole dollar. b. Record the entry for the purchase of the bonds by Jules Company on January 1. c. Record the entry for the receipt of interest on June 30 . d. Record the entry for the receipt of interest on December 31. e. Record the adjusting entry on December 31 to adjust the debt investment to fair value. The fair value of the bonds on December 31 was $49,000
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