Monty Corp. issues $350,000 of bonds for $367,500. Prepare the journal entry to record the issuance...
Monty Corp. issues $350,000 of bonds for $367,500.
Prepare the journal entry to record the issuance of the bonds
Homework Answers
| Account | Debit | Credit |
|---|---|---|
| Cash | 367,500 | |
| Premium on Bonds Payable | 17,500 | |
| Bonds payable | 350,000 |
(to record issuance of bonds payable)
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Monty Corp. issues $350,000 of bonds for $367,500.
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