Question
On November 1, 2018, Sigma Inc. invests in $1,000,000 of 5%, 10-year bonds issued by Microsoft Corporation, intending to hold the bonds until their maturity.
On November 1, 2018, Sigma Inc. invests in $1,000,000 of 5%, 10-year bonds issued by Microsoft Corporation, intending to hold the bonds until their maturity. The bonds pay interest each January 1 and July 1. What account related to the bonds will be on Sigma's income statement for the year ended December 31, 2018?
A.Interest revenue B.Interest receivable C.Interest expense D.Interest payable
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Auditing Outsourced Functions Risk Management In An Outsourced World
Authors: Mark Salamasick
1st Edition
0894137255, 9780894137259
