Olindo Company sells Gishs bonds costing $40,000 for $45,000, including $500 of accrued interest. In recording the sale, Olindo books a $5,000 gain. Is this

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Olindo Company sells Gish’s bonds costing $40,000 for $45,000, including $500 of accrued interest. In recording the sale, Olindo books a $5,000 gain. Is this correct? Explain.

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Olindo Company sells Gishs bonds costing $40,000 for $45,000, including $500 of accrued interest. In recording the sale, Olindo books a $5,000 gain. Is this

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