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Ronan Company purchased bonds with a face amount of $800,000 between interest payment dates. Ronan purchased the bonds at 102, paid brokerage costs of $12,000,
Ronan Company purchased bonds with a face amount of $800,000 between interest payment dates. Ronan purchased the bonds at 102, paid brokerage costs of $12,000, and paid accrued interest for three months of $20,000. What is the amount to record as the cost of this long-term investment in bonds? Select answer from the options below $848,000 $816,000 $828,000 $800,000
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