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I need help solving this question and i also wanna know how to solve it.....
1.On August 1,2011 airport company sold Paxton company $1,000,000 of 10-year, 6% bonds, dated July 1 at 100 plus accrued interest. On march 1, 2012 Paxton sold half of the bonds for $520,000 plus accrued interest
1. Purchase of bonds on August 1,2011
2. Receipt of first semiannual interest amount on dec 31, 2011
3. The sale of the bonds on march 1,2012
1.On August 1,2011 airport company sold Paxton company $1,000,000 of 10-year, 6% bonds, dated July 1 at 100 plus accrued interest. On march 1, 2012 Paxton sold half of the bonds for $520,000 plus accrued interest
1. Purchase of bonds on August 1,2011
2. Receipt of first semiannual interest amount on dec 31, 2011
3. The sale of the bonds on march 1,2012
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