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Brief Exercise H-1 Wildhorse Corporation purchased debt investments for $40,500 on January 1, 2019. On July 1, 2019, Wildhorse received cash interest of $1,775. Journalize
Brief Exercise H-1 Wildhorse Corporation purchased debt investments for $40,500 on January 1, 2019. On July 1, 2019, Wildhorse received cash interest of $1,775. Journalize the purchase and the receipt of interest. Assume no interest has been accrued. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit List Of Accounts CLOSE Brief Exercise H-1 Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accumulated Other Comprehensive Loss Allowance for Doubtful Accounts Bonds Payable Buildings Cash Common Stock Debt Investments Discount on Bonds Payable Dividend Revenue Dividends Payable Equipment Fair Value Adjustment Fair Value Adjustment-Available-for-Sale Fair Value Adjustment-Debt Fair Value Adjustment-Stock Fair Value Adjustment-Trading Gain on Sale of Debt Investments Gain on Sale of Stock Investments Goodwill Income Tax Payable Interest Receivable Interest Revenue Inventory Land Loss on Sale of Stock Investments Notes Payable Paid-in Capital in Excess of Par Value Prepaid Insurance Retained Earnings Revenue from Stock Investments Stock Investments Unrealized Gain Unrealized Gain or Loss-Equity Unrealized Gain or Loss-Income Unrealized Loss Unrealized Loss on Available-for-Sale Securities
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