Tempest Co. purchased 60, 6% Ulrich Company bonds for $60,000 cash. Interest is payable semiannually on July 1 and January 1. If 30 of the securities are sold on July 1 for $32,000, the entry would include a credit to Gain on Sale of Debt Investments for Select one: a. $2,000. b. $1,750. c. $1,800. d. $0 e. $1,600.
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