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On January 1, 2013, Rupar Retailers purchased $100,000 of Anand Company bonds at a discount of $5,000. The Anand bonds pay 6% interest but were

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On January 1, 2013, Rupar Retailers purchased $100,000 of Anand Company bonds at a discount of $5,000. The Anand bonds pay 6% interest but were purchased when the market interest rate was 7% for bonds of similar risk and maturity. The bonds pay interest semiannually on January 1 and July 1 of each year. Rupar accounts for the bonds as a held-to-maturity Investment, and uses the effective Interest method. In Rupar's December 31, 2013, Journal entry to record the second period of Interest, Rupar would record a credit to interest revenue of: Multiple Choice $3,336 $3,500 O $3,325 ezono

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