On March 31, 20X4, PEL Inc. purchased a $200,000, 5%, 5 year national railway bond that pays interest each April 1 and October 1. The bond is priced to yield 6% and is classified at a FVTPL investment. The purchase price was $191,470. The journal entry to record the acquisition of the investment would include what debit and credit.

Answer rating: 100% (QA)

The journal entry to record the acquisition of the investment by P... View the full answer