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Discuss the receipt of semiannual interest

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Reference no: EM131746496

Windsor Corporation purchased, as a held-to-maturity investment, $57,000 of the 8%, 6-year bonds of Harrison, Inc. for $62,674, which provides a 6% return. The bonds pay interest semiannually.

Prepare Windsor's journal entries for (a) the purchase of the investment, and (b) the receipt of semiannual interest and premium amortization. Assume effective-interest amortization is used.

Reference no: EM131746496

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