Corporate Financial Accounting
14th Edition
ISBN: 9781305653535
Author: Carl Warren, James M. Reeve, Jonathan Duchac
Publisher: Cengage Learning
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Chapter D, Problem D.2EX
Entries for investment in bonds, interest, and sale of bonds
Parilo Company acquired $170,000 of Makofske Co., 5% bonds on May 1. 20Y5, at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, 20Y5, Parilo sold $50,000 of the bonds for 96.
A. The initial acquisition of the bends on May 1.
B. The semiannual interest received on November 1.
C. The sale of the bonds on November 1.
D. The accrual of $1,000 interest on December 31, 20YS.
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Corporate Financial Accounting
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