Kendall Corp

question 27

Multiple Choice

Kendall Corp.purchased at par value $160,000 of Barker Company's 7% bonds that mature in 10 months.The bonds pay interest semiannually on June 1 and December 1.Kendall plans to hold the bonds until they mature.The journal entry to record Kendall's purchase of the bonds is:

• A)debit Short-Term Debt Investments−HTM $160,000; credit Cash,$160,000.
• B)debit Cash,$169,333; credit,Short-Term Investments−HTM $169,333.
• C)debit Cash,$160,000; credit Short-Term Investments−HTM $160,000.
• D)debit Long-Term Debt Investments-HTM $160,000; credit Cash $160,000.
• E)debit Cash,$160,000; credit Long-Term Debt Investments-HTM $160,000.

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Definitions:

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Characteristics or attributes that describe an object or class in programming and software development.

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The parent class from which a subclass inherits features like methods and properties in object-oriented programming.

Late Binding

A programming mechanism where method calls are resolved at runtime rather than compile time, allowing for more dynamic and flexible code.