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Pegasus Corporation purchased debt investments for $40,800 on January 1, 2012. On July 1, 2012, Pegasus received cash interest of $1,660. Journalize the purchase and the receipt of interest. Assume no interest has been accrued.

Pegasus Corporation purchased debt investments for $40,800 on January 1, 2012. On July 1, 2012, Pegasus received cash interest of $1,660. Journalize the purchase and the receipt of interest. Assume 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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Financial Accounting Tools for business decision making

Financial Accounting Tools for business decision making

ISBN: 978-0470534779

6th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Details
Chapter # 15- Reporting and Analyzing Investments
Section: Brief Exercises
Problem: 1
Posted Date: September 22, 2011 11:30:51
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