Debra Technologies invests $50,000 to acquire $50,000 face value, 12%, five-year corporate bonds on December 31, 2010. The bonds will mature on December 31, 2015. The bonds pay interest semiannually on December 31 and June 30 every year until maturity. Assume Debra Technologies uses a calendar year. Based on the information provided, which of the following will be included in the journal entry for the transaction on December 31, 2014? A. a debit to Interest Revenue for $ 6 comma 000$6,000 B. a credit to Interest Revenue for $ 6 comma 000$6,000 C. a debit to Interest Revenue for $ 3 comma 000$3,000 D. a credit to Interest Revenue for $ 3 comma 000$3,000

Griffin Corporation invested $122,000 to acquire 26,000 shares of Delta Technologies, Inc. on March 1, 2017. On July 2, 2017, Delta pays a cash dividend of $2.25

per share. The investment is classified as an available-for-sale investment. Which of the following is the correct journal entry to record the transaction on July 2, 2017?

A.

Cash	58 comma 50058,500
Long-term Investments - Held-to-Maturity		58 comma 50058,500

B.

Cash	58 comma 50058,500
Long-term Investments - Trading Investments		58 comma 50058,500

C.

Cash	58 comma 50058,500
Dividend Revenue		58 comma 50058,500

D.

Cash	58 comma 50058,500
Long-term Investments - Available-for-Sale		58 comma 50058,500

Middlebrook Financial Services, Inc. invested $21,000 to acquire 6,000 shares of Mitt Investments, Inc. on March 15, 2013. This investment represents less than 20%

of the investee's voting stock. On May 7, 2017, Middlebrook Financial Services, Inc. sells 2,000

shares for $20,250.

Which of the following will be the correct journal entry for the May 1, 2017 transaction? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)

A.

Cash	20 comma 25020,250
Longminusterm Investments - Available-for-Sale		20 comma 25020,250

B.

Gain on Disposal	20 comma 25020,250
Longminusterm Investments - Available-for-Sale		20 comma 25020,250

C.

Cash	20 comma 25020,250
Gain on Disposal		20 comma 25020,250

D.

Cash	20,250
Longminusterm Investments - Available-for-minusSale		7,000
Gain on Disposal		13,250