Lance Brothers Enterprises acquired $605,000 of 3% bonds, dated July 1, on July 1, 2021, as...
Lance Brothers Enterprises acquired $605,000 of 3% bonds, dated
July 1, on July 1, 2021, as a long-term investment. Management has
the positive intent and ability to hold the bonds until maturity.
The market interest rate (yield) was 4% for bonds of similar risk
and maturity. Lance Brothers paid $525,000 for the investment in
bonds and will receive interest semiannually on June 30 and
December 31.
Prepare the journal entries (a) to record Lance Brothers’
investment in the bonds on July 1, 2021, and (b) to record interest
on December 31, 2021, at the effective (market) rate.
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Lance Brothers Enterprises acquired $605,000 of 3% bonds, dated
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Lance Brothers Enterprises acquired $665,000 of 3% bonds, dated July 1, on July 1, 2021, as a long-term investment Management has the positive intent and ability to hold the bonds until maturity. The market interest rate yield) was 4 for bonds of similar risk and maturity Lance Brothers paid $585.000 for the investment in bonds and will receive interest semiannually on June 30 and December Prepare the journal entries (a) to record Lance Brothers' investment in the bonds on July...
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Lance Brothers Enterprises acquired $720,000 of 3% bonds, dated July 1, on July 1, 2021, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 4% for bonds of similar risk and maturity. Lance Brothers paid $600,000 for the investment in bonds and will receive interest semiannually on June 30 and December 31. Prepare the journal entries (a) to record Lance Brothers' investment in the bonds on...
Lance Brothers Enterprises acquired $560,000 of 4% bonds, dated July 1. on July 1, 2018, as a long-term investment Management has the positive intent and ability to hold the bonds until maturity. The market interest rate (yield) was 5% for bonds of similar risk and maturity. Lance Brothers paid $480,000 for the investment in bonds and will receive interest semiannually on June 30 and December Prepare the journal entries (a) to record Lance Brothers' investment in the bonds on July...
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