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pishuonlain [190]
3 years ago
7

INVESTOR Corp. was interested in investing in bonds and, on 01/01/2012 purchased 8% bonds dated January 1, 2012. These bonds had

a face amount of $10 million, pay interest on 06/30 and 12/31, and mature in 10 years. For bonds of similar risk and maturity, the market yield is 6%. INVESTOR Corp. uses the effective interest method. 1. Prepare INVESTOR Corp.’s entry to record the bond purchase? 2. Prepare INVESTOR Corp.’s entry on 06/30/2012 and on 12/31/2012 to record interest?

Business
1 answer:
seropon [69]3 years ago
5 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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