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On January 1, 2005, Tucker Company purchased at face value, a $1,000, 68, bond that pays interest on January 1 and July 1. Tucker Company has a calendar year end. 34. The entry for the receipt of interest on January 1, 2006 is a. Cash 60 Interest Revenue 60 b. Cash 60 Interest Receivable 60 c. Cash 30 Interest Revenue 30 d. Cash 30 Interest Receivable 30 38. Jacobs Corporation makes a short-term investment in 100 shares of Starr Company's common stock. The stock is purchased for $40 a share plus brokerage fees of $300. The entry for the purchase is a. Debt Investments 4,000 Cash 4,000 b. Stock Investments 4,300 Cash 4,300 c. Stock Investments 4,000 Brokerage Fee Expense 300 Cash ... 4,300 d. Stock Investments 4,000 Cash..... 4,000 39. Carson Corporation sells 100 shares of common stock being held as a short-term investment. The shares were acquired six months ago at a cost of $50 a share. Carson sold the shares for $40 a share. The entry to record the sale is a. Cash ................... 4,000 Loss on sale of Stock Investments 1,000 Stock Investments 5,000 5,000 b. Cash Gain on Sale of Stock Investments Stock Investments c. Cash Stock Investments 1,000 4,000 4,000 4,000 d. Stock Investments Loss on Sale of Stock Investments Cash... 4,000 1,000 5,000

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