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On April 1, the Alliance Company purchased $50,000 of Tetter Company's 12% bonds at 100 plus accrued interest of $2,000. On June 30, Alliance received
On April 1, the Alliance Company purchased $50,000 of Tetter Company's 12% bonds at 100 plus accrued interest of $2,000. On June 30, Alliance received its first semi-annual interest. On February 1, Alliance sold $40,000 of the bonds to 103 plus accrued interest. The journal entry that the Alliance will record on April 1 for the purchase of the bonds will include ?
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
