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On January 1, 2023, Liu Corporation paid $257,082 to acquire bonds of Singh Investment Corp...

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Accounting

On January 1, 2023, Liu Corporation paid $257,082 to acquire bonds of Singh Investment Corp with a par value of $255,000. The annual contract rate on the bonds is 6.0% and interest is paid semiannually on June 30 and December 31. The bonds mature after three years. The market rate of interest was 5.7%. Liu Corporation intends to hold the bonds until maturity.

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