Use the Following Information for Questions

question 62

Short Answer

Use the following information for questions
On January 1, 2021, Marianne Corp.purchased $50,000, of Robin Ltd.'s 4%, 10-year bonds for $48,000, since the market interest rate was approximately 4.5%.The bonds pay interest on January 1 and July 1.Marianne has a calendar year end, and classified the bonds as long-term investments.The fair value on December 31, 2021 was $48,500.Marianne sold the bonds on January 2, 2022 for $48,500.
-The entry for the receipt of interest on January 1, 2022 is

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Definitions:

April, 1865

A significant month during the American Civil War, marked by the surrender of Confederate General Robert E. Lee, effectively ending the war.

Election of 1860

The 19th presidential election in the United States, resulting in Abraham Lincoln's victory, which precipitated the American Civil War.

Geographic Area

A specific part of the Earth's surface defined by natural or artificial boundaries.

Four Candidates

Refers to a situation in an election where there are four principal individuals vying for the same position, often leading to a split vote.