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On January 1, Bramble Corp. purchased as an investment a $3000, 10% bond for $3000. The bond pays interest on January 1. The bond is

On January 1, Bramble Corp. purchased as an investment a $3000, 10% bond for $3000. The bond pays interest on January 1. The bond is sold on July 1 for $3360 plus accrued interest. Interest has not been accrued since the last interest payment date. What is the entry to record the cash proceeds at the time the bond is sold?

Cash 3510
Debt Investments 3000
Interest Revenue 510

Cash 3360
Debt Investments 3360

Cash 3510
Debt Investments 3000
Gain on Sale of Debt Investments 360
Interest Revenue 150

Cash 3510
Debt Investments 3360
Interest Revenue 150

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