Solution:
Issue price of bond = $2,600,000*98% = $2,548,000
The journal entry to record the issuance will show a "Debit to cash for $2,548,000"
Hence first option is correct.
ment CALCULATO Question 2 Bonita Industries issues 2600, 10-year, 8%, $1000 bonds dated January 1, 2020,...
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