1: Marigold Corp. issues 6200, 10-year, 8%, $1000 bonds dated January 1, 2020, at 103.

The journal entry to record the issuance will show a

debit to Cash of $6200000. credit to Cash for $6386000. credit to Bonds Payable for $6237200. credit to Premium on Bonds Payable for $186000.

2:

The adjusted trial balance for Sunland Company at the end of the current year, 2020, contained the following accounts.

5-year Bonds Payable 8% $1610000 Interest Payable 53600 Premium on Bonds Payable 161000 Notes Payable (3 mo.) 40000 Notes Payable (5 yr.) 145000 Mortgage Payable ($10000 due currently) 300000 Salaries and Wages Payable 18000 Taxes Payable (due 3/15 of 2021) 25000

The total long-term liabilities reported on the balance sheet are

$2045000. $2206000. $2216000. $2055000.