On January 1, 2017, Crane Company purchased at face value, a $1130, 10% bond that pays interest on January 1. Crane Company has a calendar year end. The adjusting entry on December 31, 2017, is

On January 1, 2017, Crane Company purchased at face value, a $1130, 10% bond that pays interest on January 1. Crane Company has a calendar year end. The adjusting entry on December 31, 2017, is Interest Receivable 113 Interest Revenue 113 Cash 113 Interest Revenue 113 Interest Receivable 113 Debt Investments 113 o not required