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Crane Co. purchased 40, $1,000, 4%, Blossom Company bonds on January 1, 2019 for $40450 cash. Interest is payable annually on January 1. The
Crane Co. purchased 40, $1,000, 4%, Blossom Company bonds on January 1, 2019 for $40450 cash. Interest is payable annually on January 1. The entry to record the January 1, 2020 annual interest payment would include a O credit to Interest Receivable for $1600. O credit to Debt Investments for $1618. credit to Interest Revenue for $1618. debit to Interest Revenue for $1600.
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