On June 30, 20X4, Distinct Company purchased a $150,000, 4%, 8 year Hydro bond that pays interest annually on July 1. The bond was sold to yield 3% and was classified as a FVTPL investment. The purchase price was $160,530. The journal entry to record the acquisition of the bond would include what amounts?

Answer rating: 100% (QA)

To record the acquisition of the bond by Distinct Company the journal entry would involve recognizin... View the full answer