On July 1, 20x5, Claudio Corp. issued bonds with a face value of $800,000. The bonds carry
Question:
a. Prepare the entry in journal form without explanation for the issuance of the bonds assuming the bonds are issued at 98.
b. Prepare the entry in journal form without explanation for the issuance of the bonds assuming the bonds are issued at 101.
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...
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Related Book For
Advanced Financial Accounting
ISBN: 978-0132928939
7th edition
Authors: Thomas H. Beechy, V. Umashanker Trivedi, Kenneth E. MacAulay
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