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On January 1,2025, Pronghorn Compary purchased 8% bonds having a maturity value of $280,000 for $303,589.66. The bonds provide the bondholders with a 675yield. They

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On January 1,2025, Pronghorn Compary purchased 8% bonds having a maturity value of $280,000 for $303,589.66. The bonds provide the bondholders with a 675yield. They are datesd January 1, 2025, and mature January 1, 2030, with interest received on January 1 of each year Pronghorn Compary uses the affective-interest method to allocate unamortized discount or premium. The bonds are classifred in the held to-maturity category. (a) - Your answer is partially correct. Prepare the joumat entry at the date of the bond purchase. (List debit entry before credit entry. Credit account Eidlas ore outomatically indented when omount is entered, Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. Round answers to 2 dedmal ploces, es, 1,225,25

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