Steven co. purchased 30 6 johnston company bonds for 30000, Ask an Expert

Accounting

Steven Co. purchased 30, 6% Johnston Company bonds for $30,000 cash plus brokerage fees of $300. Interest is payable semiannually on July 1 and January1. The entry to record the December 31 interest accrual would include a

a. debit to Interest Revenue for $900.

b. credit to Interest Revenue for $909.

c. debit to Interest Receivable for $900.

d. debit to Debt Investments for $900.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M958025

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