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
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