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A company made an investment in ABC Bonds for the purpose of earning interest. The bonds have an amortized cost of $11,300 and are being
A company made an investment in ABC Bonds for the purpose of earning interest. The bonds have an amortized cost of $11,300 and are being sold before maturity for $11,900. The journal entry for the sale will include
1.a debit to Cash for $11,300.
2.a credit to ABC Bonds for $11,900.
3.a debit to Loss on Sale of ABC Bonds for $600.
4.a credit to Gain on Sale of ABC Bonds for $600.
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