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Winrow Co. purchased 50, 6% Johnston Company bonds for $50,000 cash plus brokerage fees of $500. Interest is payable semiannually on July 1 and January
Winrow Co. purchased 50, 6% Johnston Company bonds for $50,000 cash plus brokerage fees of $500. Interest is payable semiannually on July 1 and January 1. The entry to record the December 31 interest accrual would include a a. debit to Interest Receivable for $1,500. b. debit to Interest Revenue for $1,500. c. credit to Interest Revenue for $1,515. d. debit to Debt Investments for $1,500
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