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On August 1, 2020, Davey Company acquired $1,200,000 of 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2020, and mature

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On August 1, 2020, Davey Company acquired $1,200,000 of 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2020, and mature on April 30, 2026, with interest paid each October 31 and April 30. The bonds will be added to Davey's available-for-sale portfolio. The entry to record the purchase of the bonds on August 1, 2020 is

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