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Tolan Co. purchased 60,6% Irick Company bonds for $60,000 cash plus brokerage fees of $600.Interest is payable semiannually on July 1 and january 1.If 30
Tolan Co. purchased 60,6% Irick Company bonds for $60,000 cash plus brokerage fees of $600.Interest is payable semiannually on July 1 and january 1.If 30 of the scurities are sold on July 1 for $32,000 less $300 brokerage fees ,the entery would include a credit to Gain on Sale of Debt Investment for ? A)$2,000 B)$1,700 C)$2,300 D)$1,400
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