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On January 1 2019,A company purchases 160,000 of 6%bonds for ksh168300 (5%effective interest rate ) as a non trading investment . interest paid on July
On January 1 2019,A company purchases 160,000 of 6%bonds for ksh168300 (5%effective interest rate ) as a non trading investment . interest paid on July 1 and january1.the bonds mature on Jan 1 2024.....
(1) prepare journal for Jan 1 2019
(2) The bonds are sold on November 1 2019 at 105 plus accrued interest.record amortization and interest revenue on the appropriate dates by the effective interest rate method
(3)prepare all entries required to properly record the sale
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