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Interest is paid on july 1 and january 1 and bonds mature

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On April 1, 2010, Fin Co. purchased $160,000 of 6% bonds for$166,300 plus accrued interest as an available-for-sale security. Interest is paid on July 1 and January 1 and bonds mature on July1, 2015. At December 31, 2010, the bonds were selling at 103. Prepare all journal entries required in 2010.

Reference no: EM13482691

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