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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
Accruex Corporation invests excess cash of $25,000 in corporate bonds on March 30, 2017. The bonds will mature in two years from the date of purchase.  When the bonds mature in 2019, Accruex plans to use the cash for its business expansion. Which of the following is included in the journal entry on March 30, 2017?
A) a debit to Short-term InvestmentsU.S. Treasury Notes for $25,000
B) a debit to Long-term InvestmentsAvailable-for-Sale for $25,000
C) a debit to Long-term InvestmentsHeld-to-Maturity for $25,000
D) a credit to Long-term InvestmentsAvailable-for-Sale for $25,000
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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TanksTanks
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7 years ago
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H3Ko Author
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#2
7 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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