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10. Bonds with a face value of $1,000,000 are sold at 98 . What is the journal entry to record the sale of the bonds?
10. Bonds with a face value of $1,000,000 are sold at 98. What is the journal entry to record the sale
of the bonds?
- Cash 980,000
Loss on Sale of Bonds 20,000
Bonds Payable 1,000,000
- Cash 980,000
Bonds Payable 980,000
- Cash 1,000,000
Bonds Payable 1,000,000
- Cash 1,000,000
Gain on Sale of Bonds 20,000
Bonds Payable 980,000
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