ACC 456 STUDY Extraordinary Success/acc456study.com ACC 456 STUDY Extraordinary Success/acc456study. | Page 10

Interest Income. Holly inherited $10,000 of City of Atlanta bonds in
February. In March, she received interest of $500, and in April she
sold the bonds at a $200 gain. Holly redeemed Series EE U.S. savings
bonds that she had purchased several years ago. The accumulated
interest totaled $800. Holly received $300 of inter