Colah Company purchased $3.0 million of Jackson, Inc., 5% bonds at par on July 1, 2018, with interest paid semi-annually.
Colah Company purchased $3.0 million of Jackson, Inc., 5% bonds at par on July 1, 2018, with interest paid semi-annually. Colah determined that it should account for the bonds as an available-for-sale investment. At December 31, 2018, the Jackson bonds had a fair value of $3.40 million. Colah sold the Jackson bonds on July 1, 2019 for $2,700,000. The purchase of the Jackson bonds on […]