Question

Keep getting bonds payable wrong, idk what else it could be!

Alpine Company issues $2.0 million, 10-year, 7% bonds at 99, with interest payable on December 31. The straight-line method is used to amortize bond discount. - Your answer is partially correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 1980000 Discount on Bonds Payable 20000 Bonds Payable 2000000

Answer 1

Credit Date Account title and explaination Debit Jan-01 Cash $ 1,980,000.00 Discount on Bond payable $ 20,000.00 Bonds payable $ 2,000,000.00 (To Record the sale of bonds) Note: That is the Journal entry So I have shown the same. Note : Do not enter any title in credit account, Because in the question it is shown that they are automatically indented i.e., they will be generated once u entered the amount in credit column Only Enter amount in credit column, so the title will be automatically indented