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A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns
A bond sinking fund investment is started on January 5, 2010, by transferring $10,000 in cash to the fund. This $10,000 is invested and earns $1,100 during 2010. The entry to record the earnings made on the sinking fund investment includes a debit to___ and a credit to____ a)Cash for $1,100; Income from sinking fund investment for $1,100 b)Cash for $1,100; Bond sinking fund investment for $1,100 c)Bond sinking fund investment for $1,100; income from sinking fund investment for $1,100 d)Cash for $1,100; interest income for $1,100
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