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6 2.5 pts On January 1, 2021, for $17.0 million, Summer Company purchased 8% bonds, dated January 1, 2021, with a face amount of $19.0
6 2.5 pts On January 1, 2021, for $17.0 million, Summer Company purchased 8% bonds, dated January 1, 2021, with a face amount of $19.0 million. For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. The journal entry to record interest on June 30, 2021 would include: dr. Cash $760,000 O None of the options listed. O cr. Interest revenue $760,000 O dr. Interest revenue $850,000 O cr. Discount on bond investment $90,000
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