Homework Answers
| Statement showing Computations | |||
| Date | Account titles and explanation | Debit | Credit |
| June 01'2020 | Cash A/C Dr | 306,000.00 | |
| To 8% Bonds Payable | 300,000.00 | ||
| To Premium on Bonds payable | 6,000.00 | ||
| (Being bonds issued at premium) | |||
| Cash =300,000*102% | 306,000.00 | ||
| Premium = 306,000 - 300,000 | 6,000.00 | ||
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