Assuming management does not elect the fair value option

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Reference no: EM131013741

On June 1, 2014, Day Co. received $103,288 for $100,000 face amount, 12% bonds, a price that yields 10%. Assuming management does not elect the fair value option, prepare the adjusting entry for December 31, 2014. If no entry is necessary, write "no entry." Round all values to the nearest dollar

Reference no: EM131013741

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