Richman Company purchased $1,200,000 of 8%,5-year bonds from Carlin, Inc. on January 1,2021, with interest...
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Accounting
Richman Company purchased $ of year bonds from Carlin, Inc. on January with interest payable on July and January The bonds sold for $ at an effective interest rate of Using the effective interest method, Richman Company decreased the AvailableforSale Debt Securities account for the Carlin, Inc. bonds on July and December by the amortized premiums of $ and $ respectively.
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