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On January 1, 2017, Soo Park Corp. purchased at face value, a $5,000, 5%, bond investment that pays interest on January 1 and July 1. Soo Park classified the investment as long-term. Soo Park has a calendar year end.
-The entry for the receipt of interest on July 1, 2017, is

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The Answer of Use the following information for questions.
On January 1, 2017, Soo Park Corp. purchased at face value, a $5,000, 5%, bond investment that pays interest on January 1 and July 1. Soo Park classified the investment as long-term. Soo Park has a calendar year end.
-The entry for the receipt of interest on July 1, 2017, is

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