Leonard Technologies invests $54,000 to acquire $54,000 face value, 10%, five-year corporate bonds on December 31, 2014. The bonds will mature on December 31, 2019. The bonds pay interest semiannually on December 31 and June 30 every year until maturity. Assume Leonard Technologies uses a calendar year. Based on the information provided, which of the following will be included in the journal entry for the transaction on December 31, 2018?
A. a debit to Interest Revenue for $5,400
B. a credit to Interest Revenue for $2,700
C. a debit to Interest Revenue for $2,700
D. a credit to Interest Revenue for $5,400
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Leonard Technologies invests $54,000 to acquire $54,000 face value, 10%, five-year corporate bonds on December 31, 2014. The bonds will ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
What do u mean by modern technology
Answers (2)
Which of the following best describes assurance services? a) Independent professional services that report on the client's financial statements b) Independent professional services that report on specific written management assertions c) Independent
Answers (1)
The market for smartphones has become very competitive. the increase in competition in this market is an example of how the market responds to
Answers (1)
The following information relates to Halloran Co.'s accounts receivable for 2013: Accounts receivable balance, 1/1/2013 $ 847,000 Credit sales for 2013 3,340,000 Accounts receivable written off during 2013 54,000 Collections from customers during
Answers (1)
What fee may be collected prior to delivering required disclosures?
Answers (1)
New Questions in Business
The Single European Act was put in place in an attempt to Multiple Choice convince Great Britain to remain in the EU. determine the viability of a common currency. expand the role of the EU into northern Africa.
Answers (1)
One reason to buy a home instead of rent a home is: AHomes have the potential to appreciate in value over time. BHomes have fewer maintenance costs. CBuying a home requires less money upfront. DBuying a home is a more flexible housing option.
Answers (1)
The following amounts are reported in the ledger of Mariah Company: Assets $ 78,000 Liabilities 41,000 Retained Earnings 9,000 What is the balance in the common stock account
Answers (1)
Which method of analysis does not classify variables as dependent or independent? A) regression analysis B) discriminant analysis C) cluster analysis D) analysis of variance
Answers (1)
An article is released detailing how Tech Company A has created software that is currently the best on the market. Tech Company A is expected to gain a major portion of market share for this type of software.
Answers (1)