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Ownbey Corporation purchased debt investments for $52,000 on January 1, 2014. On July 1, 2014, Ownbey received cash interest of

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Ownbey Corporation purchased debt investments for $52,000 on January 1, 2014. On July 1, 2014, Ownbey received cash interest of $2,340. Journalize the purchase and the receipt of interest. Assume that no interest has been accrued.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...

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Related Book For  answer-question
Accounting Principles

Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Details
Chapter # 16
Section: Brief Exercises
Problem: 1
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Question Posted: January 30, 2014 02:42:01
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