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On July 1 of Year 1 , West Company purchased for cash, 4 0 , $ 1 0 , 0 0 0 bonds of North
On July of Year West Company purchased for cash, $ bonds of North Corporation at a market rate of The bonds pay interest, payable on a semiannual basis each July and January and mature in three years on July The bonds are classified as trading securities West Company's annual reporting period ends December Assume the effective interest method of amortization of any discounts or premiums. Record the adjusting entries by West Company on December of Year to accrue interest revenue ad record the unrealized gain or loss. The fair value of the bonds on December of Year was $
On July of Year West Company purchased for cash, $ bonds of North Corporation at a market rate of The bonds pay interest, payable on a semiannual basis each July and January and mature in three years on July The bonds are classified as trading securities West Company's annual reporting period ends December Assume the effective interest method of amortization of any discounts or premiums. Record the adjusting entries by West Company on December of Year to accrue interest revenue ad record the unrealized gain or loss. The fair value of the bonds on December of Year was $
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