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Business, 06.12.2019 00:31 dicewillis

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.

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On may 1, 20y6, stanton company purchased $100,000 of harris company's 12% bonds at 100 plus accrued...
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