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Payette Corp. purchased bonds with a face amount of $500,000 between interest payment dates. The bonds were purchased at 101.328 (i.e., 101.328% of face value).
Payette Corp. purchased bonds with a face amount of $500,000 between interest payment dates. The bonds were purchased at 101.328 (i.e., 101.328% of face value). Brokerage costs of $3,800 and accrued interest for three months totalling $12,000 was also paid. The amount to record as the cost of this long-term investment in bonds is?
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