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Problem 2- ACCOUNTING FOR INVESTMENT IN DEBT - 15 POINT At December 30, 2020, Harry Co. purchased 10 bonds to Maggie Co., at $1,000 each.
Problem 2- ACCOUNTING FOR INVESTMENT IN DEBT - 15 POINT At December 30, 2020, Harry Co. purchased 10 bonds to Maggie Co., at $1,000 each. The bonds paid interest at 7%., and maturity date in 5-years ago. The bonds pay interest annually. Harry Co., at December 30, 2021, receipt the first payment of interest. Harry Co., at January 1, 2022, sold all bonds at $1,850 each. Instructions Prepare the journal entries for: a. December 30, 2020 b. December 30, 2021 c. January 1, 2022
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