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Barr Company purchased bonds with a face amount of $400,000 between

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Barr Company purchased bonds with a face amount of $400,000 between interest payment dates. Barr purchased the bonds at 102, paid brokerage costs of $6,000, and paid accrued interest for three months of $10,000. The amount to record as the cost of this long-term investment in bonds is;a. $424,000.;b. $414,000.;c. $408,000.;d. $400,000.

 

Paper#26436 | Written in 18-Jul-2015

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