Cedar Co. purchased 80, 6% LKN Company bonds for $80,000 cash. Interest is payable annually on January 1. If 40 of the securities are sold January 1 for $41,000 the entry would include a credit to Gain on Sale of Debt Investments of

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The Answer of Cedar Co. purchased 80, 6% LKN Company bonds for $80,000 cash. Interest is payable annually on January 1. If 40 of the securities are sold January 1 for $41,000 the entry would include a credit to Gain on Sale of Debt Investments of

Cedar Co Purchased 80, 6% LKN Company Bonds for $80,000 Cash