1. The Discount on Bonds Payable Account is:

A. A contra account to bonds paybable

B. Is Expensed at Bonds Maturity

C. Is An Expense Account

D. Is a Miscellaneous Revenue Account

2. A bond with a face value of of $300,000 and a quoted proce of 96 has a selling price of?

3. Company X issued $500,000 in bonds payable at par value. The Journal Entry to record semiannual interest payment will look like what?

4. Company Y issued bonds $425,000, 6% 5 year bonds for 109 with interest paid annually. Assuming straight line ammortization, what is the carrying value after 1 year?