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On January 1, 2017 Beta Co acquires bonds issued by Delta co. The bonds mature December 31, 2019 and interest is payable annually on December
On January 1, 2017 Beta Co acquires bonds issued by Delta co. The bonds mature December 31, 2019 and interest is payable annually on December 31. Beta pays $278,384 to acquire $300, 000 of 9% bonds. The yield for the bonds to b Jan ac is 12%. The amortization schedule assuming the effective interest method round to the nearest dollar for this investment is. Co Es 300000 Bi Face 9% C Face rate 12% yield Amor 278,384 togn 284,790 1/1/2017 -12/31/2017 12/31/2018 12/31/2019 33,406 34,175 35,036 6,406 Val 27,000 27,000 27,000 7,175 291,965 8,036 300,001 ntra + to I. Assuming Beta categories this investment as Held-to-Maturity, prepare the journal entry to record the receipt of interest and amortization at 12/31/2017 7 R
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