A short-term investment in a U.S. Treasury bill costs $24,400 and will mature six months later at $25,000. Management intends to hold the investment until it matures. The entry to record the adjusting entry on December 31, assuming three months have passed is:
A) Short-Term Investments 300 Interest Income 300
B) Interest Receivable 300 Interest Income 300
C) Short-Term Investments 600Cash 600
D) Interest Income 600 Short-Term Investments 600
A
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a. True b. False Indicate whether the statement is true or false
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