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Sheridan Co. purchased 94,7% Carla Vista Company bonds for $94000 cash. Interest is payable annually on January 1 . If 45 of the securities are

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Sheridan Co. purchased 94,7% Carla Vista Company bonds for $94000 cash. Interest is payable annually on January 1 . If 45 of the securities are sold on January 1 for $48500, the entry would include a credit to Gain on Sale of Debt Investments for $2625.$2425.$2575.$3500

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