Solved: On october 1 2014 kim co purchased to hold to maturity 300, Accounting Basics

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On october 1 2014 kim co purchased to hold to maturity 300

Question - On October 1, 2014 Kim Co. purchased (to hold to maturity) 300, $1,000, 6% bonds for $309,000. An additional $6,000 was paid for accrued interest. Interest is paid semiannually on December 1 and June 1, and the bonds mature on December 1, 2018.Kim uses straight-line method of amortization. Ignoring income taxes, calculate the amount reported in Kim's 2014 income statement from this investment?

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Accounting Basics: On october 1 2014 kim co purchased to hold to maturity 300

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