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The dorchester company invested 100000 in 5-year bonds

Question - The Dorchester Company invested $100,000 in 5-year bonds. The bonds were purchased at par and bear interest at a rate of 8% per annum, payable semiannually.

(a) Prepare the journal entry to record the initial investment.

(b) Prepare the journal entry that Dorchester would record on each interest date.

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Accounting Basics: The dorchester company invested 100000 in 5-year bonds

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Accounting Basics: The dorchester company invested 100000 in 5-year bonds

Reference No:- TGS02870187

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