World Co. paid $45,000 to buy 10% Fenridge Power bonds payable. The bonds pay semi-annual...
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World Co. paid $45,000 to buy 10% Fenridge Power bonds payable. The bonds pay semi-annual interest on June 30th and December 31st. World Co. paid $100 commission. World Co. intends to hold these bonds for 9 months and then trade them. The entry to record this purchase is
Multiple Choice
Short Term Investment - Fenridge Power45,000
Commission fee expense100
Cash45,100
Short Term Investment - Fenridge Power45,100
Cash45,100
No entry
Cash45,100
Short Term Investment - Fenridge Power45,100
Short Term Investment - Fenridge Power45,100
Cash100
Commission fee expense45,000
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