Question
Cort Inc. was authorized to issue $1,000,000 of 8 percent bonds. On April 1, 2019, the corporation issued bonds with a face value of $200,000
Cort Inc. was authorized to issue $1,000,000 of 8 percent bonds. On April 1, 2019, the corporation issued bonds with a face value of $200,000 at a price of 102.0. The bonds mature 10 years from the date of issue. Interest is payable semiannually on October 1 and April 1. Prepare the general journal entry to record the April 1, 2019, bond issue.
| General Journal | Debit | Credit | ||
|---|---|---|---|---|
| 1 | April 01, 2019 | Cash | ||
| Bonds payable | 200,000 | |||
| Premium on bonds payable |
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Property Companies An Industry Accounting And Auditing Guide
Authors: Accountancy Books
1st Edition
1853558079, 978-1853558078
