Solved: Interest is paid on july 1 and january 1 and the bonds, Accounting Basics

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Interest is paid on july 1 and january 1 and the bonds

Question - On April 1, 2014, West Company purchased $395,000 of 6.00% bonds for $410,550 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and the bonds mature on July 1, 2019.

Prepare the journal entry on April 1, 2014.

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Accounting Basics: Interest is paid on july 1 and january 1 and the bonds

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Accounting Basics: Interest is paid on july 1 and january 1 and the bonds

Reference No:- TGS02877581

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