On November 1, Sigma Inc. invests in $1,000,000 of 5%, 10-year bonds issued by Microsoft Corporation, intending

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On November 1, Sigma Inc. invests in $1,000,000 of 5%, 10-year bonds issued by Microsoft Corporation, intending to hold the bonds until their maturity. The bonds pay interest each January 1 and July 1. What account related to the bonds will be on Sigma's income statement for the year ended December 31,?

A. Interest revenue
B. Interest receivable
C. Interest expense
D. Interest payable

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Accounting Principles

ISBN: 978-1119048473

7th Canadian Edition Volume 2

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Posted Date: Apr 18, 2021 01:45 PM

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On November 1, Sigma Inc. invests in $1,000,000 of 5%, 10-year bonds issued by Microsoft Corporation, intending

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A Interest revenue Interest revenue is that the earnings that an entity receives from any investment... View the full answer

Accounting Principles

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