Moon Corporation issued $300,000 par value 10-year bonds at 107 on January 1, 20X3, which Star Corporation purchased. On July 1, 20X7, Sun Corporation purchased $120,000 face value of Moon bonds from Star. The bonds pay 12 percent interest annually on December 31. The preparation of consolidated financial statements for Moon and Sun at December 31, 20X9, required the following consolidation entry:
-Based on the information given above,what amount did Sun pay when it purchased the bonds on July 1,20X7?
Definitions:
Artificial Sweetener
Substances used to sweeten foods and beverages that contain little to no calories, used as an alternative to sugar for weight control or diabetes management.
Fetus
a developing mammal or human from the end of the embryonic stage until birth.
Habituation
A psychological learning process wherein there is a decrease in response to a stimulus after being repeatedly exposed to it.
Placenta
An organ that develops in the uterus during pregnancy, providing oxygen and nutrients to the growing fetus while removing waste products.
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