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please answer to question P13-5. Thanks. Dis. P13-5 LO 13.2 both methods. Investment and Partial Sale of Investment Using Effective Interest Method On January 1,
please answer to question P13-5.
Thanks.
Dis. P13-5 LO 13.2 both methods. Investment and Partial Sale of Investment Using Effective Interest Method On January 1, 2019, Mark Corporation purchased bonds with a face value of $500.000 The bonds are due December 31, 2021, carry a 10% stated rate, and were purchased to co able semiannually on June 30 and December 31. On January 1, 2021, in contemplation of a major acqua one-fourth of the bonds were sold for $127.000. The remainder were held until maturity. Required: Prepare journal entries to record the purchase of the bonds, each interest payment, the partial sa ment on January 1, 2021, and the retirement of the bond issue on December 31, 2021. P13-6 Trading Securities Akers Company invests its excess cash in marketable securities. At the beginning of 2019, 10 13.3 had the following portfolio of investments in trading debt securities: 12/31/18 Par Value Amortized Cost Fair Value $ 8.400 $ 9,400
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