1.Copeland Company is authorized to issue 40,000 $10 common shares. On January 15, 2014, Copeland issued 10,000 shares at $15 per share. Copelands journal entry to record these facts should include a (5 Points) a. credit to Common Shares for $100,000. b. credit to Common Shares for $150,000. c. debit to Common Shares for $150,000. d. Both a and b

2.McLennan Corporation issued $200,000 of 9.5% five-year bonds. The bonds are dated and sold on January 1, 2014. Interest payment dates are January 1 and July 1. The bonds are issued for $196,140 to yield the market interest rate of 10%. Use the effective-interest method for Questions 10 through 14. What is the total cash payment for interest for each 12-month period? (5 Points) a. $10,000 b. $19,000 c. $19,614 d. $20,000