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Landmark Corp. buys$470000 of Schroeter Company's 7%, 5-year bonds payable at par value on September 1 Interest payments are made semiannually, Landmark plans to hold

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Landmark Corp. buys$470000 of Schroeter Company's 7%, 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 $470,000 credit Cash $470,000 Debit Cash $470,000, credt Interest Revenue $470,000. Debit Cash $470.000, credit Long-Term Investments HTM $470000 Debit Cash $470,000; credit Interest Receivable $470,000 Debit Cash $470,000, credit Bonds Payable $470,000

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