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What journal entry to record transaction for fabular dental

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Problem 1: On April 1, 2020, Fabular Dental Company purchases a $15,000 portfolio of debt investment (bonds) paying 8% interest annually. The company intends to hold the investments for the long term. What is the journal entry to record the transaction?

Select one:

a. Debit Long Term Investments - Bonds for $15,000, Credit Cash for $15,000

b. Debit Bonds Receivable for $15,000, Credit Cash for $15,000

c. Debit Short Term Investments - Bonds for $15,000, Credit Cash for $15,000

d. Debit Accounts Receivable for $15,000, Credit Cash for $15,000

Problem 2: When an investor plans to generate investment income without intending to establish a long-term relationship with the investee, this investment would be classified as a/an:

Select one:

a. Non-strategic investment

b. Strategic investment

c. Short-term investment

d. Long-term investment

Reference no: EM132948980

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