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On June 30, Trey Co. purchased a bond, with a face value of $200,000 and a stated interest rate of 5%, at 98% of face
On June 30, Trey Co. purchased a bond, with a face value of $200,000 and a stated interest rate of 5%, at 98% of face value. Interest is payable on June 30 and December 31. The company intends to hold the investment until maturity and does not elect the fair value option. What is the initial carrying value on June 307 A. $195,000 B. $196,000 C. $200,000 D. $204.000
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Principles Of Financial And Managerial Accounting
Authors: James Don Edwards, Roger H. Hermanson
1st Edition
0256130000, 978-0256130003
