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Unformatted text preview: investment. A.) DEBIT CREDIT Accounts Investments $3,060,00 Accrued Interest Receivable $80,000 Cash $3,140,0 00 (Records Frst investment purchase) 1. Cash $120,000 Accrued Interest Receivable $120,000 (Records interest payment on April 30, 20X7) 2. Cash $120,000 Accrued Interest Receivable $120,000 (Records interest payment on 31 October) 3. Investments Revenues $5,000 Increase in ±air Value of Investments $5,000 (Records investments’ fair value change on 31 December) B.) The accrued interest would be recognized as revenue. Interest Income $ 80,000 Add: Interest Income $120,000 $200,000 Add: Net Increase $ 5,000 Total Investment $205,000...
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- Spring '14
- semiannual interest payment, Aslan County, Aslan County General Fund