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Journalize the entry to record the following selected transactions of Oliver Co.

a) Purchased $10,000 of Kruse Co. 8% bonds at 102 plus accrued interest of $2,000.

b) Received first semiannual interest payment

c) Amortized $40 on the bond investment at the end of the first year.

d) Sold the bonds at 97 plus accrued interest of $1,500. The bonds were carried at $101,500 at the time of sale

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9430724

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