Solved

On January 1, 2014, Tri-State Company Purchased at Face Value

Question 61

Multiple Choice

On January 1, 2014, Tri-State Company purchased at face value, a $1,000 7%, bond that pays interest annually on January 1. Tri-State Company has a calendar year end. The entry for the receipt of interest on January 1, 2015 is


A) On January 1, 2014, Tri-State Company purchased at face value, a $1,000 7%, bond that pays interest annually on January 1. Tri-State Company has a calendar year end. The entry for the receipt of interest on January 1, 2015 is A) B) C) D)
B) On January 1, 2014, Tri-State Company purchased at face value, a $1,000 7%, bond that pays interest annually on January 1. Tri-State Company has a calendar year end. The entry for the receipt of interest on January 1, 2015 is A) B) C) D)
C) On January 1, 2014, Tri-State Company purchased at face value, a $1,000 7%, bond that pays interest annually on January 1. Tri-State Company has a calendar year end. The entry for the receipt of interest on January 1, 2015 is A) B) C) D)
D) On January 1, 2014, Tri-State Company purchased at face value, a $1,000 7%, bond that pays interest annually on January 1. Tri-State Company has a calendar year end. The entry for the receipt of interest on January 1, 2015 is A) B) C) D)

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q3: Which is not a strategic reason to

Q25: To be classified as a short-term investment

Q63: Gulf Coast Corporation makes an investment in

Q81: Unless there is evidence to the contrary,

Q106: If the cost method is used to

Q114: Which of the following is a debt

Q166: When the cost method is used to

Q193: The amount you must deposit now in

Q207: Which of the following is not a

Q243: Bing Company owns 30% interest in the