On January 1, 2020, Marigold Company purchased at face value, a $1020, 10% bond that pays interest on January 1. Marigold Company has a calendar year end. The adjusting entry on December 31, 2020, is Cash 102 Interest Revenue 102 not required Interest Receivable 102 Interest Revenue 102 Interest Receivable 102 Debt Investments 102

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.