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BOND INVESTMENTS

6 五月, 2015 - 17:10

When bonds are purchased between interest payments, it is customary to pay the accrued interest to the seller. This accrued interest paid to the seller is debited to the Interest Income account when bonds are initially acquired. As interest payments are received, the Interest Income account is credited. At the end of a fiscal year, an adjusting entry is made for any accrued interest.