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Prepare whispering journal entries

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Question - Whispering Company purchased, on January 1, 2017, as a held-to-maturity investment, $78,000 of the 9%, 5-year bonds of Chester Corporation for $72,234, which provides an 11% return.

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

Reference no: EM131578135

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