Question: Multiple Choice Question Phoenix Co . paid $ 2 5 , 0 0 0 to buy a 5 % , 2 - year bond payable

Multiple Choice Question
Phoenix Co. paid $25,000 to buy a 5%,2-year bond payable with a $25,000 par value. The bonds pay interest semiannually. Phoenix intends to hold the bonds until they mature. The entry to reflect this purchase would include a debit to which of the following accounts in what amount?
Debt Investments for $25,000
Bonds Payable for $25,000
Bond Investments for $25,000
Cash for $25,000
Multiple Choice Question Phoenix Co . paid $ 2 5

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