On May 1, 20Y6, Stanton Company purchased $100,000 of Harris Company's 12% bonds at 100 plus accrued interest of $4,000. On June 30, 20Y6, Stanton received its first semiannual interest. On February 1, 20Y7, Stanton sold $80,000 of the bonds at 103 plus accrued interest. The journal entry Stanton will record on February 1, 20Y7, will include a a. credit to Interest Revenue for $2,400. b. credit to Gain on Sale of Investments for $2,400. c. debit to Cash for $82,400 d. credit to Interest Receivable for $1,000.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “On May 1, 20Y6, Stanton Company purchased $100,000 of Harris Company's 12% bonds at 100 plus accrued interest of $4,000. On June 30, 20Y6, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
How does a project charter support the project manager in getting things for the project from other people?
Answers (1)
If a project costs $100 comma 000100,000 and is expected to return $27 comma 00027,000 annually, how long does it take to recover the initial investment? what would be the discounted payback period at iequals=1212 %?
Answers (1)
The characteristics of a strong culture company include:A. deeply-rooted values and operating approaches that "regulate" the conduct of a company's business and the climate of its workplace. B.
Answers (1)
Your boss e-mails you to make sure you are working over the weekend on the big project that is due next week.
Answers (1)
Susan has a 401k plan through her job and has accumulated $375,000 in her account. Her company has invested her funts in a high interest bearing account yielding 8% per year. She would like to retire with $600,000 in her account.
Answers (1)
New Questions in Business
What's the difference between price skimming and price penetration strategies?
Answers (1)
The grocery store has bulk pecans on sale, which is great since you're planning on making 8 pecan pies for a wedding. How many pounds of pecans should you buy?
Answers (2)
If a country imposes a tariff on imported shoes, we expect the domestic price of shoes to ... And the quantity of shoes consumed in the domestic market to ... a.) Fall; rise b.) Fall; fall c.) Rise; fall d.) Rise; rise
Answers (1)
James hayes owns 510 shares of ohio utility preferred stock. if this preferred stock issue pays $3.50 per share, what is the total dollar amount mr. hayes will receive in one year?
Answers (1)
On behalf of Digital Cable Company, Ed signs an instrument in which he promises to deliver I, 000 feet of optic fiber cable to First Internet Bank on March l. This instrument is a. negotiable. b.
Answers (2)