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Prepare the appropriate journal entries to record the transactions for the year, 20X1, including any...

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Accounting

Prepare the appropriate journal entries to record the transactions for the year, 20X1, including any year-end adjustments. Show calculations, rounded to the nearest dollar.

On January 1, 20X1, Dalton Corporatoin used excess to purchase 500 bounds when the market rate of interest for bonds of a similar risk was 10% . Each bond had a face value of $1000 and paid interest annually on December 31 at 8% maturing on Decemver 31, 20X3. Dalton's Investment is accunted for as held to maturity. The market rate for bonds of a similar risk was 9% at year end.

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