On June 1, $40,000 of treasury bonds were purchased between intrest dates. The broker commission was $600.

Question:

On June 1, $40,000 of treasury bonds were purchased between intrest dates. The commission was $600. The bonds pay interest at 12%, which is paid semiannually on January 1 and July 1. What is the total cost to be debited to the Investment - Treasury Bonds account? How much interest revenue will be recorded on July 1?
Broker
A broker is someone or something that acts as an intermediary third party, managing transactions between two other entities. A broker is a person or company authorized to buy and sell stocks or other investments. They are the ones responsible for...