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A company purchased $100,000 of bonds at 102 and sold them at 98. They made this entry to record the sale: DI Cr Qash 102,000

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A company purchased $100,000 of bonds at 102 and sold them at 98. They made this entry to record the sale: DI Cr Qash 102,000 Investment in Bonds 100,000 2,000 Gain on sale Thaniwer la correct The correct answer is debit Cash 98.000, credit Investment in Bonds 98.000 (the amount they were sold for) The correct answer is debit Cash 100.000, credit Investment in Bonds 100.000 (the face amount of the bands) The correct answer is debit Cash 98.000, debit Loss on Sale 4000. credit Investment in Bonds 102.000 (the amount they were sold for less the cost)

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