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Salt Foods purchases forty $ 1 , 0 0 0 , 7 % , 1 0 - year bonds issued by Pretzelmania, Incorporated, for $
Salt Foods purchases forty $year bonds issued by Pretzelmania, Incorporated, for $ on January The market interest rate for bonds of similar risk and maturity is Salt Foods receives interest semiannually on June and December
& Record the necessary entries regarding the bonds. If no entry is required for a particular transactionevent select No journal entry required" in the first account field. Round your answers to the nearest whole number.
First National Bank buys and sells securities The company's fiscal year ends on December The following selected transactions relating to First National's trading account occurred during the year.
December Purchases shares in Classic Computers common stock for $ $ per share
December Receives cash dividends of $ from the Classic Computers shares.
December The fair value of Classic Computers' stock is $ per share.
Required:
Record each of these transactions, including an adjusting entry on December for the investment's fair value, if appropriate. The investment in Classic Computers represents of total shares outstanding.
Calculate the balance of the Investments account on December assuming the balance was $ on December
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