Wildhorse Electric sold $4,510,000, 14%, 10-year bonds on January 1, 2020. The bonds were dated January...
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Prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
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Date |
Account Titles and Explanation |
Debit |
Credit |
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Jan. 1, 2020 |
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Homework Answers
Answer
--The entry would be
| Date | Accounts title | Debit | Credit |
| 01-Jan-20 | Cash ($4510000 x 97/100) | $4,374,700 | |
| Discount on Bonds Payable | $135,300 | ||
| Bonds Payable | $4,510,000 | ||
| (to record issuance of Bonds) |
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