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Accounting Homework question help please? |
Co. purchased as a long-term investment $75 million of 8% bonds, dated January 1, on January 1, 2006. Management intends to have the investment available for sale when circumstances warrant. For bonds of similar risk and maturity the market yield was 10%. The price paid for the bonds was $62 million. Interest is received semiannually on June 30 and December 31. Due to changing market conditions, the fair value of the bonds at December 31, 2006, was $66 million. I used this site when i needed help. It is a good site for accounting homework help There is a trusted Indian site by an Indian Professor |
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