February 1, Hansen company purchased $120,000 of 5%, 20-year knight company bonds at their face...
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February 1, Hansen company purchased $120,000 of 5%, 20-year knight company bonds at their face amount plus one month's accrued interest. the bonds pay interest on January 1 and July 1. on October 1, Hansen company sold $40,000 of the knight company bonds acquired on February 1, plus three month's accrued interest. on December 31, three month's interest was accrued for the remaining bonds. determine the interest earned by hansen company on knight company bonds for the year. do not round interim computation and round final answer to nearest dollar.
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