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On January 1 , 2 0 2 0 , Sheridan Company purchased $ 4 4 0 , 0 0 0 , 1 0 % bonds
On January Sheridan Company purchased $ bonds of Aguirre Co for $ The bonds were purchased to yield interest. Interest is payable semiannually on July and January The bonds mature on January Sheridan Company uses the effectiveinterest method to amortize discount or premium. On January Sheridan Company sold the bonds for $ after receiving
interest to meet its liquidity needs.
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