Question
Ownbey Corporation purchased debt investments for $54,000 on January 1, 2017. On July 1, 2017, Ownbey received cash interest of $2,500. Journalize the purchase and
Ownbey Corporation purchased debt investments for $54,000 on January 1, 2017. On July 1, 2017, Ownbey received cash interest of $2,500.
Journalize the purchase and the receipt of interest. Assume that no interest has been accrued. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)
Date Account Titles and Explanation Debit Credit
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Using Microsoft Excel and Access 2016 for Accounting
Authors: Glenn Owen
5th edition
1337109048, 1337109045, 1337342149, 9781337342148 , 978-1337109048
