On july 1 2014 wheeler company purchased 3830000 of duggen, Financial Accounting

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On july 1 2014 wheeler company purchased 3830000 of duggen

On July 1, 2014, Wheeler Company purchased $3,830,000 of Duggen Company’s 8% bonds, due on July 1, 2021. The bonds, which pay interest semi annually on January 1 and July 1, were purchased for $3,290,000 to yield 10%. Determine the amount of interest revenue Wheeler should report on its income statement for the year ended December 31, 2014.

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Financial Accounting: On july 1 2014 wheeler company purchased 3830000 of duggen

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Financial Accounting: On july 1 2014 wheeler company purchased 3830000 of duggen

Reference No:- TGS01107628

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