14.

15.

7.

A bond with a face value of $160000 and a quoted price of 102.125 has a selling price of O $192180 $163220. O $160180. O $163400 On January 1, 2020, Bonita Industries issued $5400000, 10-year, 4% bonds at 102. Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2020 is O Cash Bonds Payable 5400000 5400000 O Cash 5508000 Bonds Payable 5508000 5508000 O Cash Bonds Payable Premium on Bonds Payable 5400000 108000 O Premium on Bonds Payable Cash Bonds Payable 108000 5400000 5508000 The selling price of a $10,000, 5-year bond, will be less than $10,000 if the O bond is convertible. O contractual interest rate is equal to the market interest rate. O contractual interest rate is less than the market interest rate. O contractual interest rate is greater than the market interest rate