4. PAN Corp had the following investments at 12/31/20:

Plan to Hold Cost FMV

Investment in J Corp Stock 3 years $18,000 $23,000

Investment in Y Inc Bonds 9 months 10,000 9,000

Investment in Z Corp Bonds 2 years 5,000 7,500

If 2020 net income (including unrealized gains & losses) was $150,000, how much was total comprehensive income?

a) $150,000 b) $156,000 c) $151,500 d) $152,500

5. On 3/1/21, Buyer Company purchased merchandise for $40,000, terms: 2/10, N/30. Buyer uses the net method and paid on 3/30/21. Which of the following would be recorded by Buyer on either 3/1 or 3/30?

a) debit purchases $40,000 b) debitdiscounts lost $800 c) debit A/P $40,000 d) credit purchase discounts $800