Larkspur, Inc. issues $251,000, 10-year, 10% bonds at 96. Prepare the journal entry to record the...

Question

Question

Larkspur, Inc. issues $251,000, 10-year, 10% bonds at 96. Prepare the journal entry to record the sale of these bonds on Marc

Answer 1

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Answer #1

	In the books of Larkspur

Date	Account Titles And Explanation	Debit	Credit
March 01,2022	Cash	240960
	Discount on Bond	10040
	Bonds Payable		251000

	Total	251000	251000

Working Note :-

Cash

=$251000*0.96

240960

Answer 2

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