Entity F issued 3,000 shares of its $1 par value common stock for $7 per share. Which of the following statements is correct? Hint: Prepare the journal entry and then answer the question.

		Common stock should be credited for $3,000.
		Cash should be debited for $18,000.
		Common stock should be credited for $21,000.
		Paid-in-capital-in-excess-of-par-value should be debited for $18,000.

Goodwill can be recorded

		when the company has exceptional management.
		when the company acquires a good location for its business.
		only when there is an exchange transaction involving the purchase of an entire business.
		when customers keep returning because they are satisfied with the company's products.

When bonds are issued at par, the total interest cost of the bonds over the life of the bonds is:

		interest paid over the life of the bonds.
		interest paid over the life of the bonds plus the amount of the discount at the sale point.
		interest paid over the life of the bonds minus the amount of the premium at the sale point.
		none of the above.