(Answered) On january 1 2017 sweet company purchased 9 bonds having a

Accounting

On January 1, 2017, Sweet Company purchased 9% bonds having a maturity value of $330,000, for $357,062.64. The bonds provide the bondholders with a 7% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Sweet Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.

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