Explain the entry to record the interest accrual


On January 1, Bacon Company purchased as an investment a $1,000, 7% bond for $1,020. The bond pays interest on January 1 and July 1. What is the entry to record the interest accrual on December 31?

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Accounting Basics: Explain the entry to record the interest accrual
Reference No:- TGS0721033

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