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H3Ko H3Ko
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7 years ago
Anglin Corporation has excess cash to invest and pays $200,000 to buy 7%, five-year bonds of Richmond Corporation, at face value, on June 30, 2016.  The bonds pay interest on June 30 and December 31. Anglin intends to hold the bonds to maturity. The bonds are disposed of, at face value, on June 30, 2021.

Prepare the journal entry for June 30, 2016 (omit the explanation).
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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7 years ago
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H3Ko Author
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#2
7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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4 years ago
Thank you for helping me on this problem.
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#4
4 years ago
Awesome! I was struggling with this, this helps a lot. Thanks!
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