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Steven Co. purchased 30, 6% Johnston Company bonds for $30,000 cash plus brokerage fees of $300. Interest is payable semiannually on July 1 and January1.
Steven Co. purchased 30, 6% Johnston Company bonds for $30,000 cash plus brokerage fees of $300. Interest is payable semiannually on July 1 and January1. The entry to record the December 31 interest accrual would include a a. debit to Interest Revenue for $900. b. credit to Interest Revenue for $909. c. debit to Interest Receivable for $900. d. debit to Debt Investments for $900
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