OrioleCompany acquires 63, 8%, 5 year, $1,000 Community bonds on January 1, 2017 for $63000. Assume Community pays interest on January 1. The journal entry at December 31, 2017 would include a credit to

Question 1 OrioleCompany acquires 63, 8%, 5 year, $1,000 Community bonds on January 1, 2017 for $63000. Assume Community pays interest on January 1. The journal entry at December 31, 2017 would include a credit to Accrued Expense for $5040 O Interest Receivable for $2520. Interest Revenue for $5040. Interest Receivable for $5040