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Alan Company purchased $400,000 of ABC Co. 5%6 bonds at 100 plus accrued interest of $4,500. Alan later sold $250,000 of the bonds at 97.
Alan Company purchased $400,000 of ABC Co. 5%6 bonds at 100 plus accrued interest of $4,500. Alan later sold $250,000 of the bonds at 97. The journa entry for the purchase would indlude a . debit to Interest Revenue for $4,500 b. debit to Interest Receivable for $4,500 c credit to Interest Revenue for $4,500 d credit to Interest Receivable for $4,500
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