Cost of long-term investment in the bonds


Kern Company purchased bonds with a face amount of $600,000 between interest payment dates. Kern purchased the bonds at 102, paid brokerage costs of $9,000, and paid accrued interest for three months of $15,000. The amount to record as the cost of this long-term investment in bonds is ??

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Accounting Basics: Cost of long-term investment in the bonds
Reference No:- TGS068112

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