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Parson Products Inc. purchased $186,000, 10%, five-year bonds to hold until maturity. The bonds were purchased on July 1, 2023 at market value which was
Parson Products Inc. purchased $186,000, 10%, five-year bonds to hold until maturity. The bonds were purchased on July 1, 2023 at market value which was 103, and will mature on July 1, 2028. Interest payment dates are June 30 and December 31. Parson uses the straight-line method to amortize any bond discount or premium. 25) Refer to Table 16-4. What is the debit to Investment in Bonds at July 1, 2023? A) $191,580 B) $182,520 C) $186,000 D) $180,420
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