Your company sells $52,000 of one-year, 10% bonds for an issue price of $45,000. The journal...
Your company sells $52,000 of one-year, 10% bonds for an issue price of $45,000. The journal entry to record this transaction will include a credit to Bonds Payable in the amount of:
Multiple Choice
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$50,200.
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$57,200.
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$45,000.
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$52,000.
Homework Answers
| Entry for issue of bonds | Debit | Credit |
| Cash | 45000 | |
| Discount on issue of bonds | 7000 | |
| Bonds payable | 52000 | |
| Correct answer is D | ||
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