JPIndustries Purchased Yang Corporation Bonds with a Par Value of $143,000

question 170

Multiple Choice

J.P.Industries purchased Yang Corporation bonds with a par value of $143,000 for $143,375 as a long-term investment,which included $375 in brokerage fees.The investment is classified as available-for-sale securities.J.P.'s entry to record the purchase transaction would include a:

• A)Debit to Brokerage Fees Expense,$375.
• B)Credit to Debt Investments-AFS for $143,000.
• C)Credit to Debt Investments-AFS for $143,375.
• D)Debit to Debt Investments-AFS for $143,000.
• E)Debit to Debt Investments-AFS for $143,375.

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