Landmark Corp. buys $300,000 of Schroeter Company's 8%, 5-year bonds payable at par value on September 1. Interest payments are made semiannually. Landmark plans to hold the bonds for the 5-year life. The journal entry to record the purchase should include:
A) A debit to Long-Term Investments-AFS $300,000.
B) A debit to Short-Term Investments-Trading $300,000.
C) A debit to Long-Term Investments-HTM $300,000.
D) A debit to Short-Term Investments-AFS $300,000.
E) A debit to Cash $300,000.
C) A debit to Long-Term Investments-HTM $300,000.
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