Business
Business, 06.05.2020 06:28, bain80

League Up & Co. owns vast amounts of corporate bonds. Suppose League Up buys $ 900 comma 000 of CocoCorp bonds at face value on January 2, 2018. The CocoCorp bonds pay interest at the annual rate of 8% on June 30 and December 31 and mature on December 31, 2022. League Up intends to hold the investment until maturity. Read the requirementsLOADING Requirement 1. How would the bond investment be classified on League Up's December 31, 2018, balance sheet? The CocoCorp bond investment will be classified as a long-term asset as of December 31, 2018. Requirement 2a. Journalize on League Up's books: Receipt of final interest payment on December 31, 2022

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