If the accounting year for frank ends at december 31 2015


On July 1, 2015, Frank Corp. purchased $100,000 of 8% bonds at face value. Interest is paid annually on June 30. If the accounting year for Frank ends at December 31, 2015, what will be reported with respect to the bonds on that date?

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Accounting Basics: If the accounting year for frank ends at december 31 2015
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