A cash register tape shows cash sales of exist1, 500 and sales taxes of exist120. The journal entry to record this information is If the market interest rate for a bond is higher than the stated Interest rate, the bond will sells at: A premium. A discount Par. Both a and b correct: In the balance sheet, the account Premium on Bonds Payable is added to bonds payable. deducted from bonds payable. classified as a stockholders' equity account. classified as a revenue account. One thousand bonds with a face value of exist1,000 each, are sold at 97.The entry to record the issuance is