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On November 1, 2018, Sunland Company purchased Lopez, Inc., 10-year, 10%, bonds with a face value of $740000, for $660000. An additional $18000 was paid
On November 1, 2018, Sunland Company purchased Lopez, Inc., 10-year, 10%, bonds with a face value of $740000, for $660000. An additional $18000 was paid for the accrued interest. Interest is payable semiannually on January 1 and July 1. The bonds mature on July 1, 2025. Sunland uses the straight-line method of amortization. Ignoring income taxes, the amount reported in Sunland's 2018 income statement as a result of Sunland's available-for-sale investment in Lopez was
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