Music City paid $37,800 plus a broker's fee of $525 to acquire 8% Airport Corp bonds with a $40,000 maturity value.Music City intends to hold the bonds to maturity.The journal entry to record acquisition of the bonds includes a debit to Long-Term Investment in Airport Bonds for
A) $37,800
B) $38,325
C) $40,000
D) $40,525
E) $41,525
Correct Answer:
Verified
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