Gain on sale of debt investements

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Reference no: EM13153921

Tolan co. purchased 30,6% irick company bonds for 60,000 cash plus brokerage fees of $600. Interest is payable seminannualy on july 1 and january 1. if 15 of the securities are sold on july 1 from $31,000 less $300 brokerage fees, the entry would include a credit to gain on sale of debt investements for?

a) 1,000

b) 700

c) 1,300

d) 400

Reference no: EM13153921

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