Rippa paid $150,000 to purchase Michael Corp bonds as a long-term investment.The 7% bonds had a par value of $150,000 and pay interest semiannually.Prepare the journal entry to record the transaction.

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The Answer of Rippa paid $150,000 to purchase Michael Corp bonds as a long-term investment.The 7% bonds had a par value of $150,000 and pay interest semiannually.Prepare the journal entry to record the transaction.

Rippa Paid $150,000 to Purchase Michael Corp Bonds as a Long-Term