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Flower Corp. issued bonds at 98 on January 1, 2020 with a face value of $3,000,000. The bonds are due in 6 years with a
Flower Corp. issued bonds at 98 on January 1, 2020 with a face value of $3,000,000. The bonds are due in 6 years with a state rate of interest of 5%. The journal entry to record the issuance on January 1, 2020 would include which of the following?
- A. Cr. Discount on Bonds Payable $60,000
- B. Dr. Cash $3,000,000
- C. Dr. Cash $2,940,000
- D. Cr. Bonds Payable $2,940,000
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Financial Accounting
Authors: Libby, Short
6th Edition
978-0073526881
