Question
5 001 Barnes Company purchased $64,000 of 11.5% bonds at par. The bonds mature in six years and are classified as a held-to-maturity security. Which
5 001 Barnes Company purchased $64,000 of 11.5% bonds at par. The bonds mature in six years and are classified as a held-to-maturity security. Which of the following is the correct journal entry to record the receipt of the usual semiannual interest payment? Multiple Choice: debit Cash, $3,680: credit Long-Term Investments-HTM, $3.680 debit Cash $3.680; credit interest Revenue $3.680 debit Cash, $7,360, credit Unrealized Gain-Equity, $7,360. debit Cash, $7.360; credit Long-Term Investments-HTM $7,360 debit Unrealized Gain-Equity, $3,680; credit Cash, $3,680
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