Lance Brothers Enterprises acquired $720,000 of 3% bonds, dated July 1, on July 1, 2018, as a long-term investment. Management has the positive intent and ability to hold the bonds until maturity. The market interest rate(yield) was 4% for bonds of similar risk and maturity. Lance Brothers paid $600,000 for the investment in bondsand will receive interest semiannually on June 30 and December 31. Prepare the journal entries (a) to recordLance Brothers’ investment in the bonds on July 1, 2018, and (b) to record interest on December 31, 2018, at theeffective (market) rate

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.