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On June 30, 20X4, Distinct Company purchased a $150,000, 4%, 8 year Hydro bond that pays interest annually on July 1. The bond was sold
On June 30, 20X4, Distinct Company purchased a $150,000, 4%, 8 year Hydro bond that pays interest annually on July 1. The bond was sold to yield 3% and was classified as a FVTPL investment. The purchase price was $160,530. The journal entry to record the acquisition of the bond would include what amounts?
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To record the acquisition of the bond by Distinct Company the journal entry would involve recognizin...
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Fundamental Accounting Principles Volume II
Authors: Larson Kermit, Jensen Tilly
14th Canadian Edition
71051570, 0-07-105150-3, 978-0071051576, 978-0-07-10515, 978-1259066511
