Flynn company purchased 80 rinehart company 12 10-year 1600, Financial Accounting

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Flynn company purchased 80 rinehart company 12 10-year 1600

Flynn Company purchased 80 Rinehart Company 12%, 10-year, $1,600 bonds on January 1, 2014, for $128,000. The bonds pay interest semiannually on July 1 and January 1. On January 1, 2015, after receipt of interest, Flynn Company sold 48 of the bonds for $70,400.

Prepare the journal entries to record the transactions described above.

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Financial Accounting: Flynn company purchased 80 rinehart company 12 10-year 1600

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Financial Accounting: Flynn company purchased 80 rinehart company 12 10-year 1600

Reference No:- TGS01667959

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