Business, 06.03.2020 17:35 SpookySpooks

On January 1, 2018, West Company purchased $600,000 of 6%, 5-year bonds, as an available-for-sale security, with interest payable on July 1 and January 1. The bonds sell for $623.625, which results in a premium of $23.625 and an effective interest of 4%

(a) Prepare the journal entry on April 1, 2018.
(b) Complete the Interest Revenue Received and Bond Amortization Schedule.
(c) Prepare the journal entry to record interest revenue on July 1, 2018.

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On January 1, 2018, West Company purchased $600,000 of 6%, 5-year bonds, as an available-for-sale se...

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