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On April 1 , North Company issued bonds in the market. Upon issue, South Company acquired 1 0 % of North Company's issue. On November

On April

1,

North Company issued bonds in the market. Upon issue, South Company acquired

10 %

of North Company's issue. On

November

30,

South sold the North Company bonds in the market, and the bonds were acquired by East Company. On December

31,

which one of the companies, if any, is an investor?

North Company

South Company

East Company

None of the companies is an investor.

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