FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question

Please provide the full journal entry to this problem; what is the total cost to be debited to investements-bonds?

On June 1, $50,000 of bonds were purchased between interest dates. The brokerage commission was $500. The bonds pay interest at 12%, which is paid semiannually on January 1 and July 1. What is the total cost to be debited to Investments-Bonds? a. $49,500 b. $50,000 C. $50,500
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Transcribed Image Text:On June 1, $50,000 of bonds were purchased between interest dates. The brokerage commission was $500. The bonds pay interest at 12%, which is paid semiannually on January 1 and July 1. What is the total cost to be debited to Investments-Bonds? a. $49,500 b. $50,000 C. $50,500
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