Barr company acquires 60 10 5 year 1000 community bonds on, Ask an Expert

Accounting

Barr Company acquires 60, 10%, 5 year, $1,000 Community bonds on January 1, 2010 for $61,250. This includes a brokerage commission of $1,250.

The journal entry to record this investment includes a debit to

a. Debt Investments for $60,000.

b. Debt Investments for $61,250.

c. Cash for $61,250.

d. Stock Investments for $60,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9403299

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