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On October 1, Marcus Corporation purchased $20,000 of 6% bonds of Roberts Corporation, due in 8 years. The bonds were purchased at their face amount
On October 1, Marcus Corporation purchased $20,000 of 6% bonds of Roberts Corporation, due in 8 years. The bonds were purchased at their face amount plus interest of $400 accrued from July 1, the date of the last semiannual interest payments. Required: Journalize the purchase.
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