On Sep. 1, 2010 Bros Company purchased 10000 of Handle production Ins.. %9 Bonds lace value 100 $ per bond at cost of $ 967000 and paid 1000$ as commission to the dealer plus accrued interest at the purchase date in cash, the interest is payable each Jan. I and July I and the bonds mature at Jan. 1, 2016. At April 2015 the company sold 90% of bonds at 99 $ per bond plus accrued interest in cash. Instruction Prepare the entries in 2010,2011,2015

On Sep. 1, 2010 Bros Company purchased 10000 of Handle production Ins.. %9 Bonds lace value 100 $ per bond at cost of $ 967000 and paid 1000$ as commission to the dealer plus accrued interest at the purchase date in cash, the interest is payable each Jan. I and July I and the bonds mature at Jan. 1, 2016. At April 2015 the company sold 90% of bonds at 99 $ per bond plus accrued interest in cash. Instruction Prepare the entries in 2010,2011,2015

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 5RE

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