Business
Business, 13.07.2021 15:10, dlatricewilcoxp0tsdw

The fair value of the bonds at December 31 of each year-end is as follows. 2017 $320,500 2020 $310,000
2018 $309,000 2021 $300,000
2019 $308,000

Required:
a. Prepare the journal entry at the date of the bond purchase.
b. Prepare the journal entries to record the interest revenue and recognition of fair value for 2017.
c. Prepare the journal entry to record the recognition of fair value for 2018.

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Answers: 3

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The fair value of the bonds at December 31 of each year-end is as follows. 2017 $320,500 2020 $310,...

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