If the bonds bear interest at 12 which is paid semiannually, Ask an Expert

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On June 1, $400,000 of bonds were purchased as a long-term investment at 101.5 and $500 was paid as the brokerage commission. If the bonds bear interest at 12%, which is paid semiannually on January 1 and July 1, what is the total cost to be debited to the investment account?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9404900

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