Question
Vaughn Co. purchased 49, $1,000, 5%, Ivanhoe Company bonds on January 1, 2019 for $49530 cash. Interest is payable annually on January 1. The entry
Vaughn Co. purchased 49, $1,000, 5%, Ivanhoe Company bonds on January 1, 2019 for $49530 cash. Interest is payable annually on January 1. The entry to record the January 1, 2020 annual interest payment would include a
debit to Interest Revenue for $2450.
credit to Debt Investments for $2477.
credit to Interest Receivable for $2450.
credit to Interest Revenue for $2477.
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Auditing Explained A Practical Guide For Managers
Authors: John Dunn
1st Edition
0749405619, 978-0749405618
