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On April 1, Sally Is Given $20,000 Worth of General

Question 19

Multiple Choice

On April 1, Sally is given $20,000 worth of General Motors bonds for her 18th birthday. On June 30, Sally receives the $800 annual interest payment on the bonds. How much income should Sally recognize due to these two events?


A) $- 0 -
B) $200
C) $800
D) $20,000
E) $20,800

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