Pharoah Company had the following transactions pertaining to debt securities held as an investment. ...
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Pharoah Company had the following transactions pertaining to debt securities held as an investment. Jan. Purchased $ Sheridan Company bonds for $ cash. Interest is payable annually on January Dec. Accrued $ annual interest on Sheridan Company bonds. Journalize the purchase and the receipt of interest. Assume no interest has been accrued. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries. If no entry is required, select No Entry" for the account titles and enter for the amounts. Date Account Titles and Explanation Debit Credit Debt Investments Cash Interest Receivable 
Pharoah Company had the following transactions pertaining to debt securities held as an investment.
Jan. Purchased $ Sheridan Company bonds for $ cash. Interest is payable annually on January
Dec. Accrued $ annual interest on Sheridan Company bonds.
Journalize the purchase and the receipt of interest. Assume no interest has been accrued. Credit account titles are automatically
indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries
before credit entries. If no entry is required, select No Entry" for the account titles and enter for the amounts.
Date
Account Titles and Explanation
Debit
Credit
Debt Investments
Cash
Interest Receivable
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