Use the Following Information to Solve the Following Questions

question 42

Multiple Choice

Use the following information to solve the following questions:
On July 1, 2020, Harry Ltd. purchased $ 200,000 (par value) of Prince's 8% bonds. Because the market rate was 9%, Harry purchased them for $ 186,992. The bonds pay interest semi-annually on December 31 and June 30. Harry uses the amortized cost model and the effective-interest method to recognize interest income on bond investments.
-Rounding values to the nearest dollar (if necessary) , the entry to recognize receipt of the first interest payment on December 31, 2020 will include a

• A) debit to Cash of $ 9,000.
• B) credit to Interest Income of $ 8,415.
• C) debit to Cash of $ 8,415.
• D) credit to Interest Income of $ 8,000.

---

Definitions:

Categorization

The process of sorting or classifying objects, people, or concepts into groups based on shared characteristics or criteria.

Anti-Racist Approach

A strategy or philosophy that actively opposes racism and promotes racial tolerance and equality.

Racism

Prejudice, discrimination, or antagonism directed against someone of a different race based on the belief that one's own race is superior.

Social Oppression

A systemic phenomenon where certain groups are marginalized, discriminated against, or persecuted based on immutable characteristics.