Question: Please show work and explain Ban Co. purchased 50, 5% Waylan Company bonds on January 1,2016 for $50,500 cash. Interest is payable annually on January

Please show work and explain Ban Co. purchased 50, 5% Waylan Company Please show work and explain

Ban Co. purchased 50, 5% Waylan Company bonds on January 1,2016 for $50,500 cash. Interest is payable annually on January 1. The entry to record the January 1, 2017 annual interest payment would include a A) debit to Interest Revenue for $2,500. B) credit to Interest Receivable for $2,500. C) credit to Interest Revenue for $2,525. D) credit to Debt Investments for $2,525

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