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Debra Technologies invests $68,000 to acquire $68,000 face value, 10%, five-year corporate bonds on ...

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Debra Technologies invests $68,000 to acquire $68,000 face value, 10%, five-year corporate bonds on ...

Debra Technologies invests $68,000 to acquire $68,000 face value, 10%, five-year corporate bonds on December 31, 2010. The bonds will mature on December 31, 2015. The bonds pay interest semiannually on December 31 and June 30 every year until maturity. Assume Debra 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, 2014?
A) a debit to Interest Revenue for $6,800
B) a debit to Interest Revenue for $3,400
C) a credit to Interest Revenue for $3,400
D) a credit to Interest Revenue for $6,800

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

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H3Ko Author

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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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cgittens8591

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4 years ago

thanks

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