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on may 1, pierce company purchase $60,000 of stanton company's 12% bonds at 100 plus accrued interest of $2,400. on june 30, pierce received its
on may 1, pierce company purchase $60,000 of stanton company's 12% bonds at 100 plus accrued interest of $2,400. on june 30, pierce received its first semiannual interest. on feb 1, pierce sold $50,000 of the bonds at 103 plus accrued interest . what is the journal entry for june 3 will include a:
Debit to cash for $3,600
Credit to cash for $2,400
Credit to interest revenue for $2,400
Or
Credit to interest receivable for $1,200
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