Business, 06.02.2021 04:10 alemorachis49
On July 1, 2018, Tanner-UNF Corp. acquired as an investment $25,000 of 8% bonds. The market interest rate (yield) was 6% for bonds. Tanner-UNF paid $27,000 for the bonds. The investment is classified as available-for-sale investments. The company will receive interest semiannually on June 30 and December 31, with the effective method. The fair value of the bonds at December 31, 2018, was $27,120. On January 2, 2019, the company sold the investment for $26,220. The journal entries on January 2, 2019 should include a
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On July 1, 2018, Tanner-UNF Corp. acquired as an investment $25,000 of 8% bonds. The market interest...
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