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Landmark Corp. buys $510,000 of Schroeter Company's 9%, 5-year bonds payable, at par value on September 1. Interest payments are made semiannually. Landmark plans to
Landmark Corp. buys $510,000 of Schroeter Company's 9%, 5-year bonds payable, at par value on September 1. Interest payments are made semiannually. Landmark plans to hold the bonds for the 5-year life. When the bonds mature, the journal entry to record the proceeds will be: Multiple Choice Debit Long-Term Investments-HTM $510,000, credit Cash $510,000. Debit Cash $510,000, credit Interest Revenue $510,000. Debit Cash $510,000; credit Debt InvestmentsHTM $510,000. Debit Cash $510,000, credit Interest Recelvable $510,000. Debit Cash $510,000, credit Bonds Payable $510,000. O
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