Purchased $400,000 of ABC Co

question 9

Multiple Choice

Purchased $400,000 of ABC Co. 5% bonds at 100 plus accrued interest of $4,500. Sold $250,000 of bonds at 97 plus accrued interest. The journal entry for the sale would include:

• A) a debit to Cash for $242,500
• B) a credit to Loss on Sale for $7,500
• C) a credit to Gain on Sale for $7,500
• D) a debit to Cash for $244,300

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Definitions:

Relational Architecture

The design and structure of social or organizational relationships and networks.

Co-workers

Colleagues or individuals who work together in the same organization or workplace.

Stretch Assignments

Challenging assignments and projects that are larger in scope than one’s current job and involve more responsibility.

Same Level

Refers to elements or factors that are at an equivalent position or rank within a hierarchy or system.