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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Sagal 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. Sagal intends to hold the bonds to maturity. The bonds are disposed of, at face value, on June 30, 2021.

Prepare the journal entry for December 31, 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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TanksTanks
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7 years ago
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H3Ko Author
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#2
7 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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4 years ago
Thank you for the answer
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