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Five thousand bonds with a face value of $1000 each, are sold at 106. The entry to record the issuance is Cash 5300000 Bonds Payable

Five thousand bonds with a face value of $1000 each, are sold at 106. The entry to record the issuance is

Cash 5300000

Bonds Payable 5300000

Cash 5000000

Premium on Bonds Payable 300000

Bonds Payable 5300000

Cash 5300000

Premium on Bonds Payable 300000

Bonds Payable 5000000

Cash 5300000

Discount on Bonds Payable 300000

Bonds Payable 5000000

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