Journal entry to record the second period of interest, June 30, Matrix would record a credit to investment revenue:
Journal entry to record the second period of interest, June 30, Matrix would record a credit to investment revenue:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
On January 1, 2019, Matrix, Inc. purchased as an investment OMR 22,000, of 9%, 8-year bonds, interest paid semi-annually. The market rate for similar bonds is 11%, so Matrix paid OMR 20,000.
Select one:
A. 2,200
B. 1,100
C. 990
D. 1980
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