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  3. on january 1, issuing company issued $50,000 in de

On January 1, Issuing Company issued $50,000 in debt securities. The stated interest rate on...

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Accounting

On January 1, Issuing Company issued $50,000 in debt securities. The stated interest rate on the debt securities is 8%, with interest payable semiannually, on June 30 and December 31. On February 1, Purchasing Company purchased the bonds from the private investor who acquired them when they were originally issued. Purchasing Company paid the private investor an amount equal to the face value of the securities plus accrued interest. The securities were purchased as trading securities.

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