On January 1, 2014, Bregeut Company, a calendar year corporation, purchased 900 of the $1,000 face value, 9% bonds of Clariant Incorporated, for CHF900,000. The bonds, which mature on January 1, 2019, pay interest semiannually on July 1 and January 1. On July, 2014, Bregeut will make an entry to

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Bregeut will recognize interest revenue from the semiannual interest payment received on the bonds.

On January 1, 2014, Bregeut Company, a Calendar Year Corporation