Question
Key Company acquires 60, 10%, 5 year, $1,000 Community bonds on January 1, 2012 for $61,250. This includes a brokerage commission of $1,250. The journal
Key Company acquires 60, 10%, 5 year, $1,000 Community bonds on January 1, 2012 for $61,250. This includes a brokerage commission of $1,250. The journal entry to record this investment includes a debit to
a/Debt Investments for $60,000.
b/Debt Investments for $61,250.
c/Cash for $61,250.
d/Stock Investments for $60,000.
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
