Question: On January 1 , 2 0 2 5 , Kingbird Company purchased 9 % bonds having a maturity value of $ 2 5 0 ,

On January 1,2025, Kingbird Company purchased 9% bonds having a maturity value of $ 250,000 for $ 270,502.00. The bonds provide the bondholders with a 7% yield. They are dated January 1,2025, and mature January 1,2030, with interest received on January 1 of each year. Kingbird Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.
On January 1 , 2 0 2 5 , Kingbird Company

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