Kendall Corp

question 13

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 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 Investments-HTM $160,000; credit Cash $160,000.
• E)debit Cash,$160,000; credit Long-Term Investments-HTM $160,000.

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