Marked out of 1.00* Remove flagOn 1/7/ 2019, AI Farah Co.purchased RO 90000 bonds of 8% bonds from Oman Arab bank,interest is payable each July 1 and31.12, the face value of bond Omr50. Which of the following thejournal entries on 31.12.2018.Select one:a.Cash3600Interest Revenue3600Ob.Interest Receivable3600Interest revenue3600C.Unrealized Holding Gain or Loss3600Fair Value Adjustment3600d.Fair Value Adjustment3600Unrealized Holding Gain or Loss3600Previous pageNext page

When a person buys bonds or debentures of a company they receive interest as decided by the company.…

On 1/7/ 2019, Al Farah Co. purchased RO 90000 bonds of 8 % bonds from Oman Arab bank, interest is payable each July 1 and 31.12, the face value of bond Omr 50. Which of the following the journal entries on 31.12.2018.

On 1/7/ 2019, Al Farah Co. purchased RO 90000 bonds of 8 % bonds from Oman Arab bank, interest is payable each July 1 and 31.12, the face value of bond Omr 50. Which of the following the journal entries on 31.12.2018.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Marked out of 1.00
* Remove flag
On 1/7/ 2019, AI Farah Co.
purchased RO 90000 bonds of 8
% bonds from Oman Arab bank,
interest is payable each July 1 and
31.12, the face value of bond Omr
50. Which of the following the
journal entries on 31.12.2018.
Select one:
a.
Cash
3600
Interest Revenue
3600
Ob.
Interest Receivable
3600
Interest revenue
3600
C.
Unrealized Holding Gain or Loss
3600
Fair Value Adjustment
3600
d.
Fair Value Adjustment
3600
Unrealized Holding Gain or Loss
3600
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