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Company a Purchases U

Question 64

Multiple Choice

Company A purchases U.S.Treasury bills for $23,700.This investment will be held to maturity.The bills will mature in 90 days at $24,000.The entry to record the initial investment will include a


A) credit to Short-Term Investments for $23,700.
B) debit to Short-Term Investments for $23,700.
C) debit to Short-Term Investments for $24,000.
D) credit to Interest Receivable for $300.

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