On August 1, 2011, Cassidy Company acquired $60,000 face value 10% bonds of Hurley Corporation at 104 plus accrued interest.The bonds were dated May 1, 2011, and mature on April 30, 2016, with interest payable each October 31 and April 30.The bonds will be held to maturity.Assuming the cost model is used, what entry should Cassidy make to record the purchase of the bonds on August 1, 2011?

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The Answer of On August 1, 2011, Cassidy Company acquired $60,000 face value 10% bonds of Hurley Corporation at 104 plus accrued interest.The bonds were dated May 1, 2011, and mature on April 30, 2016, with interest payable each October 31 and April 30.The bonds will be held to maturity.Assuming the cost model is used, what entry should Cassidy make to record the purchase of the bonds on August 1, 2011?

On August 1, 2011, Cassidy Company Acquired $60,000 Face Value