ch17 - 2015 Instructions(a Prepare the journal entry on...

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Name: __________________________ Problem chapter 17 1. Investment in debt securities at discount On July 1, 2010, Sprinkle Co. purchased $120,000 of 8% bonds for $115,252.37 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1,
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Unformatted text preview: 2015. Instructions: (a) Prepare the journal entry on July 1, 2010. (b) The bonds are sold on November 1, 2011 at 103 plus accrued interest. Amortization was recorded by the effective interest rate method. Prepare all entries required to properly record the sale.(show the calculation)...
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