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On May 1, 2020, Warren Inc. purchases $90,000 of 10-year, 5.5% Reeve Corporation bonds dated May 1, 2020 at 100.5. Calculate and enter amounts for:
On May 1, 2020, Warren Inc. purchases $90,000 of 10-year, 5.5% Reeve Corporation bonds dated May 1, 2020 at 100.5. Calculate and enter amounts for: What entry would Warren record when purchasing the bonds? Debit Bond Investment - Reeve Corp. $ Credit Cash$ What entry would Warren record when receiving its semiannual interest on September 1? Debit Cash $ Credit Interest Revenue $
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