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On April 1, 2025, Vaughn Manufacturing purchased $698,000 of 6% bonds for $725,545 plus accrued interest as an available-for-sale security. Interest is paid on July
On April 1, 2025, Vaughn Manufacturing purchased $698,000 of 6% bonds for $725,545 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2030. Prepare the journal entry on April 1, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry isrequired,select "No Entry" for the account titles and enter 0 for the amounts.)
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