Saturn Corporation issued $300,000 par value 10-year bonds at 107 on January 1,20X3,which Star Corporation purchased.On July 1,20X7,Pluto Corporation purchased $120,000 face value of Saturn bonds from Star.The bonds pay 12 percent interest annually on December 31.The preparation of consolidated financial statements for Saturn and Pluto at December 31,20X9,required the following consolidation entry:
-Based on the information given above,what amount did Pluto pay when it purchased the bonds on July 1,20X7?
Definitions:
Fundamental Attribution Error
The tendency to overemphasize personal characteristics and ignore situational factors in judging others' behavior.
Confirmation Bias
The tendency to interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses.
Stereotype
A common yet rigid and overly simplistic representation or belief about a certain group or object, usually formed from insufficient information.
Fundamental Attribution Error
A common bias in social psychology where people tend to overemphasize personality traits and underestimate situational factors when explaining others' behaviors.
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