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Business, 16.12.2019 21:31 caleb768

Carow corporation purchased on january 1, 2020, as a held-to-maturity investment, $60,000 of the 8%, 5-year bonds of harrison, inc. for $65,117, which provides a 6% return. the bonds pay interest semiannually. prepare carow’s journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and premium amortization. assume effective-interest amortization is used.

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