Accruex Corporation Has Excess Cash of $25,000 and Invests the Same

question 72

Multiple Choice

Accruex Corporation has excess cash of $25,000 and invests the same amount in corporate bonds on March 30, 2015. The bonds will mature in two years from the date of purchase. The company plans to use the cash from the bonds for its business expansion after the bonds mature in 2017. Based on the information provided, which of the following will be included in the journal entry on March 30, 2015?

• A)a debit to Long-term Investments-Held-to-Maturity for $25,000
• B)a debit to Short-term Investments-US Treasury Notes for $25,000
• C)a debit to Long-term Investments-Available-for-Sale for $25,000
• D)a credit to Long-term Investments-Available-for-Sale for $25,000

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