Homework Answers
OPTION: Credit to bonds payable for $5,000,000
EXPLANATION:
|
Cash ($5,000,000 x 1.03 Premium on bonds payable Bonds payable |
$5,150,000 . . |
. $150,000 $5,000,000 |
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ment CALCULATO Question 2 Bonita Industries issues 2600, 10-year, 8%, $1000 bonds dated January 1, 2020,...
ment CALCULATO Question 2 Bonita Industries issues 2600, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The Journal entry to record the issuance will show a debit to Cash for $2548000. debit to Cash of $2600000. credit to Discount on Bonds Payable for $52000. credit to Bonds Payable for $2652000.
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ment CALCULATO Question 2 Bonita Industries issues 2600, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The Journal entry to record the issuance will show a debit to Cash for $2548000. debit to Cash of $2600000. credit to Discount on Bonds Payable for $52000. credit to Bonds Payable for $2652000.
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