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Orville Company purchased bonds with a face amount of $600,000 between interest payment dates. Orville purchased the bonds at 102, paid brokerage costs of $9,000, and paid accrued interest for three months of $15,000. The amount to record as the cost of this long-term investment in bonds is:

a) $636,000

b) $621,000

c) $612,000

d) $600,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M946153

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