Business, 12.11.2019 06:31 kennedy5550

Daniel purchased a bond on july 1, 2017, at par of $10,000 plus accrued interest of $300. on december 31, 2017, daniel collected the $600 interest for the year. on january 1, 2018, daniel sold the bond for $10,200.a. daniel must recognize $300 interest income for 2017 and a $200 gain on the sale of the bond in 2018.b. daniel must recognize $600 interest income for 2017 and a $200 gain on the sale of the bond in 2018.c. daniel must recognize $600 interest income for 2017 and a $100 loss on the sale of the bond in 2018.d. daniel must recognize $300 interest income for 2017 and a $100 loss on the sale of the bond in 2018.e. none of these.

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Daniel purchased a bond on july 1, 2017, at par of $10,000 plus accrued interest of $300. on decembe...