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On January 1, 2020, Larsson Inc. purchased 150 Jones Inc.8%, 10-year $5,000 bonds. The bonds pay interest annually on De
Posted: Thu Apr 28, 2022 10:30 am
by answerhappygod
- On January 1 2020 Larsson Inc Purchased 150 Jones Inc 8 10 Year 5 000 Bonds The Bonds Pay Interest Annually On De 1 (12.55 KiB) Viewed 5549 times
On January 1, 2020, Larsson Inc. purchased 150 Jones Inc.8%, 10-year $5,000 bonds. The bonds pay interest annually on December 31. If Larsson receives the interest payment for 2020 on January 1, 2021, how should it journalize this event? $60.000 debit to Interest Receivable and $60,000 credit to Interest Revenue O $60.000 debit to Cash and $60,000 credit to Interest Receivable O $60.000 debit to Interest Revenue and $60,000 credit to Interest Receivable O $60,000 debit to Cash and $60,000 credit to Interest Revenue