12 Mendez Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2017, at 103. The journal entry to record the issuance will show a credit to Cash for $5,150,000. debit to Cash of $5,000,000. credit to Premium on Bonds Payable for $150,000. credit to Bonds Payable for $5,150,000. Question 13 Which of the following items would increase the retained earnings balance? Prior period adjustment for understatement of net income. Sale of treasury shares at more than cost. Net losses. Share dividends. Question 18 Simon Company issued 3,000 ordinary shares with a $5 par value in payment of its attorney's bill of $60,000. The bill was for services performed in helping the company incorporate. Simon should record this transaction by debiting Legal Expense for $15,000. Legal Expense for $60,000. Organization Expense for $15,000. Organization Expense for $60,000