Question
On October 1, Gordon Company purchased $100,000 face value of 10% Strong Company bonds at 98. The brokerage commission was $50. The bonds pay interest
On October 1, Gordon Company purchased $100,000 face value of 10% Strong Company bonds at 98. The brokerage commission was $50. The bonds pay interest each March 31 and September 30.
What amount should be recorded as an increase to the bond investment account on October 1?
| A. | $98,050 | |
| B. | $100,050 | |
| C. | $98,000 | |
| D. | $100,000 |
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Cost And Management Accounting An Introduction
Authors: Colin Drury
5th Edition
1861529058, 978-1861529053
