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9. Snapchat issues 50 of $1,000 two-year bonds with 8% annual stated rate on January 1, 2015. The interest is paid semi-annually and the market
9. Snapchat issues 50 of $1,000 two-year bonds with 8% annual stated rate on January 1, 2015. The interest is paid semi-annually and the market interest rate at issuance is 9%. What are the correct journal entries on January 1, 2015 and December 31, 2015? A. January 1, 2015 Dr. Cash $50,000 Cr. Bond Payable $50,000 Dr. Cash $50,000 Cr. Bond Payable $50,000 B. X XC. December 31, 2015 Dr. Interest expense $2,000 Cr. Cash $2,000 Dr. Interest expense $2,209.64 Cr. Bond Premium $209.64 Cr. Cash $2,000 Dr. Interest expense $2,209.64 Cr. Bond Discount $209.64 Cr. Cash $2,000 Dr. Interest expense $2,219.07 Cr. Bond Premium $219.07 Cr. Cash $2,000 Dr. Interest expense $2,219.07 Cr. Bond Discount $219.07 Cr. Cash $2,000 D. Dr. Cash $49,103.06 Cr. Bond Discount $896.94 Cr. Bond Payable $50,000 Dr. Cash $49,103.06 Cr. Bond Premium $896.94 Cr. Bond Payable $50,000 Dr. Cash $49,103.06 Dr. Bond Discount $896.94 Cr. Bond Payable $50,000 2 E
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