Amex Corporation invests excess cash to purchase $25,000 in corporate bonds on March 30, 2018. In addition to the $25,000, Amex also paid a brokerage fee of $1,000. Amex intends to hold the bonds until maturity and has the ability to do so. When the bonds mature on March 30, 2020, Amex plans to use the cash for its business expansion. Which of the following is included in the journal entry on March 30, 2018?
a. a debit to Held-to-Maturity Debt Investments for $25,000.
b. a debit to Held-to-Maturity Debt Investments for $26,000 for $26,00.
c. a debt to Trading-Debt Investments for $25,000.
d. a debt to Trading-Debt Investments for $35,000.
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Amex Corporation invests excess cash to purchase $25,000 in corporate bonds on March 30, 2018. In ad...
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