Question: You Answered Correct Answer Question 39 0 / 1 pts On Jan. 1, 2021, a company received $400,000 from issuing $400,000 of 6%, 5-year

You Answered Correct Answer Question 39 0 / 1 pts On Jan.

You Answered Correct Answer Question 39 0 / 1 pts On Jan. 1, 2021, a company received $400,000 from issuing $400,000 of 6%, 5-year bonds. Interest is payable on June 30 and Dec. 31. Which of the following shows a correct amount reported on the 2021 financial statements? Income statement: Interest Revenue $48,000 Balance Sheet: Bonds Receivable $424,000 Two of the choices are correct. Income statement: Interest Expense $48,000 Balance Sheet: Bonds Payable $400,000

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