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On January 1, 2020,CarlaCompany purchased $360,000,8% bonds of Aguirre Co. for $332,201. The bonds were purchased to yield10% interest. Interest is payable semiannually on July

On January 1, 2020,CarlaCompany purchased $360,000,8% bonds of Aguirre Co. for $332,201. The bonds were purchased to yield10% interest. Interest is payable semiannually on July 1 and January 1. The bonds mature on January 1, 2025.CarlaCompany uses the effective-interest method to amortize discount or premium. On January 1, 2022,CarlaCompany sold the bonds for $333,764after receiving interest to meet its liquidity needs.

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