Business, 26.02.2020 01:48 jalenJohnson6t
Barnes Company purchased $62,000 of 11.0% bonds at par. The bonds mature in six years and are classified as a held-to-maturity security. Which of the following is the correct journal entry to record the receipt of the usual semiannual interest payment?
(A) debt Cash, $4,715; credit Long-Term Investments—HTM, $4,715.
(B) debit Cash, $9,430; credit Long-Term Investments—HTM, $9,430.
(C) debit Cash, $4,715; credit Interest Revenue, $4,715.
(D) debit Cash, $9,430; credit Unrealized Gain-Equity, $9,430.
(E) debit Unrealized Gain-Equity, $4,715; credit Cash, $4,715.
Answers: 1
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Barnes Company purchased $62,000 of 11.0% bonds at par. The bonds mature in six years and are classi...
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