Interest payments received on a bond held with the business objective of actively trading should be recorded

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Interest payments received on a bond held with the business objective of actively trading should be recorded as:

a. Dr. Cash XXX
Cr. Interest Income XXX
Cr. Interest Receivable XXX

b. Dr. Interest Income XXX
Dr. Interest Receivable XXX
Cr. Cash XXX

c. Dr. Cash XXX
Cr. Investment XXX

d. Dr. Investment XXX
Cr. Gain on Investment XXX

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Fundamental Accounting Principles Volume II

ISBN: 978-1260305838

16th Canadian edition

Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann

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Question Posted: Dec 19, 2019 04:20 AM

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Interest payments received on a bond held with the business objective of actively trading should be recorded

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Fundamental Accounting Principles Volume II

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