Question

On January 1, 2019, Matrix, Inc. purchased as an investment OMR 22,000, of 9%, 8-year bonds, interest paid semi-annually. The market rate for similar bonds is 11%, so Matrix paid OMR 20,000.

Journal entry to record the second period of interest, June 30,  Matrix would record a credit to investment revenue: 


 

Select one:
A. 2,200
B. 1,100
C. 990
D. 1980

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Accounting

Bond/Notes Valuation

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