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  3. on january 1,2025, pharoah compary purchased 9% bo

On January 1,2025, Pharoah Compary purchased 9% bonds having a maturityvalue of $410,000 for $443,623.28....

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Accounting

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On January 1,2025, Pharoah Compary purchased 9% bonds having a maturityvalue of $410,000 for $443,623.28. The bonds provide the bondholders witha 7% yield. They are dated January 1, 2025, and mature January 1,2030, with interest received on January 1 of each year. Pharoah 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 joumal entry at the date of the bond purchase (List debit entry before credit entry. Credit account tities are automatically indented when amount is entered. Do not indent monuolly. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to 2 decimal places, es. 1.225.25. Atternpts: 0 of 3 used

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