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question: Martinez corp. invested in a three-year, $100 face value 8% bond paying $90.39. At this price, the bond will yield a 12% return. interest
question: Martinez corp. invested in a three-year, $100 face value 8% bond paying $90.39. At this price, the bond will yield a 12% return. interest is payable annually. please answer fast
Prepare journal entries to record the initial investment, receipt of interest, and recognition of interest income in each of the three years, and the maturity of the bond at the end of the third year. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select " No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, eg. 52.75.)Step by Step Solution
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