Use the Following Information for Questions

Multiple Choice

Use the following information for questions.
On January 1, 2018, Warner Inc. purchased 3.5%, $50,000 face value Jackson Corp. bonds at face value. Interest is payable semi-annually on July 1 and January 1. The bonds are classified as held for trading investments. The bonds were sold on July 2, 2018 for $53,000.
-On January 1, Saskatoon Corporation purchased as a trading investment a $1,000, 6% bond for $1,060. The bond pays interest on January 1 and July 1. After receiving and recording the interest, the bond is sold on July 1 for $1,100. What is the entry to record the cash proceeds at the time the bond is sold?

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D)