Wildhorse Corporation had these transactions pertaining to debt investments: Jan. 1 Purchased 96 11%, $1,000 Martine Co. bonds for $96,000 cash. Interest is payable semiannually on July 1 and January 1. July 1 Received semiannual interest on Martine Co. bonds. July 1 Sold 33 Martine Co. bonds for $34,160.
Wildhorse Corporation had these transactions pertaining to debt investments: Jan. 1 Purchased 96 11%, $1,000 Martine Co. bonds for $96,000 cash. Interest is payable semiannually on July 1 and January 1. July 1 Received semiannual interest on Martine Co. bonds. July 1 Sold 33 Martine Co. bonds for $34,160.
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 6EA: Oak Branch Inc. issued $700,000 of 5%, 10-year bonds when the market rate was 4%. They received...
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Wildhorse Corporation had these transactions pertaining to debt investments:
Jan. | 1 | Purchased 96 11%, $1,000 Martine Co. bonds for $96,000 cash. Interest is payable semiannually on July 1 and January 1. | |
July | 1 | Received semiannual interest on Martine Co. bonds. | |
July | 1 | Sold 33 Martine Co. bonds for $34,160. |
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