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On June 1, $40,000 of treasury bonds were purchased between interest dates. The broker commission...

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Accounting

On June 1, $40,000 of treasury bonds were purchased between interest dates. The broker commission was $600. The bonds pay interest at 12%, which is paid semiannually on January 1 and July 1. How much interest revenue will be recorded on July 1?

$400

$406

$2,000

$2,400

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