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3. Kimmel Corporation purchased debt investments for $50,000 on January 1, 2012. On July 1, 2012, Kimmel received cash interest of $2,500. Journalize the
3. Kimmel Corporation purchased debt investments for $50,000 on January 1, 2012. On July 1, 2012, Kimmel received cash interest of $2,500. Journalize the purchase and the receipt of interest. Assume that no interest has been accrued.
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
10th Edition
1119491630, 978-1119491637, 978-0470534793
