(Answered) Question - on january 1 2013 dagwood company purchased at

Accounting

Question - On January 1, 2013, Dagwood Company purchased at par 10% bonds having a maturity value of $311,800. They are dated January 1, 2013, and mature January 1, 2018, with interest receivable December 31 of each year. The bonds are classified in the held-to-maturity category.

(a) Prepare the journal entry at the date of the bond purchase.

(b) Prepare the journal entry to record the interest received for 2013.

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