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  3. on january 1, 2025, sweet company purchased 9% bon

On January 1, 2025, Sweet Company purchased 9% bonds having a maturity value of $210,000...

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Accounting

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On January 1, 2025, Sweet Company purchased 9% bonds having a maturity value of $210,000 for $227,221.68, The bonds provide the bondholders with a 7\% yield. They are dated January 1, 2025, and mature January 1, 2030, with interest received on January 1 of each year. Sweet Company uses the effective interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category. (a) Prepare the journal entry at the date of the bond purchase. (List debit entry before credit entry. Credit occount tities are automatically indented when amount is entered. Do not indent manually, If no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts. Round answers to 2 decimal places, es. 1,225.25.)

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