Use the Following Information for Questions

question 13

Multiple Choice

Use the following information for questions.
On January 1, 2017, 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, 2017 was $48,500. Marianne sold the bonds on January 2, 2018 for $48,500.
-The entry for the receipt of interest on July 1, 2017 is

---

Definitions:

Lotto America

A multi-state lottery game in the United States that features draws where players can win cash prizes based on the numbers they select.

Automobile Tires

Rubber coverings designed specifically for automobile wheels, providing traction and absorbing shock for a smoother ride.

Candy Company

A business entity that specializes in the production and sale of sweets and confections.

Shrewd Businessman

An individual known for their savvy, insightful, and often strategic approach to business dealings and decision-making.