Question: Balance sheet and income statement data indicate the following: Based on the data presented above, what is the number of times bond interest charges were
Balance sheet and income statement data indicate the following: Based on the data presented above, what is the number of times bond interest charges were earned (round to two decimal places)? a. 5.72 6.83 c. 4.72 d. 4.83 On June 1, $400,000 of bonds were purchased as a long-term investment at 97.5 and $500 we paid as the brokerage commission. If the bonds bear interest at 12%, which is paid semiannually on January 1 and July 1, what is the total cost to be debited to the investment account? a. $400,000 b. $390, 500 c. $400, 500 d.$390,000
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