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61 133 points look On January 1, Parson Freight Company issues 7.5%, 10-year bonds with a par value of $3,300.000. The bonds pay interest semiannually.
61 133 points look On January 1, Parson Freight Company issues 7.5%, 10-year bonds with a par value of $3,300.000. The bonds pay interest semiannually. The market rate of interest is 8,5% and the bond selling price was $2.889.352. The bond issuance should be recorded as: Multiple Choice Debit Cash $3,300,000; credit Bonds Payable $3,100,000. Debit Cash $2,889,352; credit Bonds Payable $2.889.352. Debit Cash $3300,000; credit Bonds Payable $2.889,352, credit Discount on Bonds Payable $210,648 Debit Cash $2,889,352, debit Discount on Bonds Payable $210,648 credit Blonds Payable $3,100,000 Multiple Choice Debit Cash $3,100,000; credit Bonds Payable $3,100,000. Debit Cash $2,889,352; credit Bonds Payable $2,889,352. Debit Cash $3,100,000; credit Bonds Payable $2,889,352; credit Discount on Bonds Payable $210,648. Debit Cash $2,889,352; debit Discount on Bonds Payable $210,648; credit Bonds Payable $3,100,000. Debit Cash $2,889,352; debit Interest Expense $210,648; credit Bonds Payable $3,100,000
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