Plz currect option tell me with explain. Uregentaly AccountingSold May Corporation bond purchase for cashof $5,100.The May Corporation Bonds were: five(5), 7%,$1,000 bonds purchased for 45,000 plusbrokerage fees of $50The correct journal entry to sell the bonds isDebit: Cash $5,100; credit: DebtInvestments $5,000; credit: Gain onSale of Investment $100А.Debit: Cash $5,100; credit: DebtInvestment $4,950; credit: Gain onSale of Investment $150В.Debit: Cash $5,100; credit: DebtInvestments $5,100С.Debit: Cash $5,100; credit: DebtInvestments $5,050; credit: Gain onSale of Investment $50D.

journal entry with proper explanation are as follows

Accounting Sold May Corporation bond purchase for cash of $5,100. The May Corporation Bonds were: five(5), 7%, $1,000 bonds purchased for 45,000 plus brokerage fees of $50 The correct journal entry to sell the bonds is

Accounting Sold May Corporation bond purchase for cash of $5,100. The May Corporation Bonds were: five(5), 7%, $1,000 bonds purchased for 45,000 plus brokerage fees of $50 The correct journal entry to sell the bonds is

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter15: Shareholders’ Equity: Capital Contributions And Distributions

Section: Chapter Questions

Problem 21E

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Question

Plz currect option tell me with explain. Uregentaly

Accounting
Sold May Corporation bond purchase for cash
of $5,100.
The May Corporation Bonds were: five(5), 7%,
$1,000 bonds purchased for 45,000 plus
brokerage fees of $50
The correct journal entry to sell the bonds is
Debit: Cash $5,100; credit: Debt
Investments $5,000; credit: Gain on
Sale of Investment $100
А.
Debit: Cash $5,100; credit: Debt
Investment $4,950; credit: Gain on
Sale of Investment $150
В.
Debit: Cash $5,100; credit: Debt
Investments $5,100
С.
Debit: Cash $5,100; credit: Debt
Investments $5,050; credit: Gain on
Sale of Investment $50
D.

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