A company purchased $30,000 of 5% bonds for investment purposes on May 1. The bonds pay interest
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A company purchased $30,000 of 5% bonds for investment purposes on May 1. The bonds pay interest on February 1 and August 1. The amount of interest revenue accrued at December 31 (the company’s year-end) is
a. $1,500.
c. $1,000.
e. $300.
b. $1,375.
d. $625.
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Related Book For
Financial And Managerial Accounting Information For Decisions
ISBN: 9781259726705
7th Edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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