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Pharoah Company purchased bonds with a face amount of $800000 between interest payment dates. Pharoah purchased the bonds at 102, paid brokerage costs of $14200,
Pharoah Company purchased bonds with a face amount of $800000 between interest payment dates. Pharoah purchased the bonds at 102, paid brokerage costs of $14200, and paid accrued interest for three months of $24200. The amount to record as the cost of this long-term investment in bonds is
$800000.
$816000.
$854400.
$830200.
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