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On April 1, 2022 Wheeler purchased 100,000 of Deggen Company's 5% bonds, due on April 1, 2023. The bonds were purchased at par and pay
On April 1, 2022 Wheeler purchased 100,000 of Deggen Company's 5% bonds, due on April 1, 2023. The bonds were purchased at par and pay interest on April 1 and October 1. The Deggen bonds were sold on July 1, 2023, for 119,200 plus accrued interest. How much gain should be recognized on the sale of Deggen bonds? Answer: 1250
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