Carla Vista Co. issued $535,000, 15-year, 8% bonds at 96. (a) Prepare the journal entry to record the sale of these bond...
Carla Vista Co. issued $535,000, 15-year, 8% bonds at 96.
(a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Homework Answers
Solution a:
| Journal Entry | |||
| transaction | Particulars | Debit | Credit |
| 1 | Cash A/c Dr ($535,000*96%) | $5,13,600 | |
| Discount on Bond payable Dr | $21,400 | ||
| To bonds payable | $5,35,000 | ||
| (To record sale of Bonds) | |||
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Type or paste question here
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(Credit account titles are automatically indented when
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Date
Account Titles and Explanation
Debit
Credit
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LINK TO TEXT
Prepare the journal entry to record the accrual of interest on...
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Type or paste question here
On January 1, 2020, Carla Vista Company issued $395,500, 9%,
5-year bonds at face value. Interest is payable annually on January
1.
Prepare the journal entry to record the issuance of the bonds.
(Credit account titles are automatically indented when
amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1, 2020
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Prepare the journal entry to record the accrual of interest on...
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