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Flyer Co. pays off $220,000 of 5% bonds on the maturity date. The bonds were originally issued for a $2,000 discount. Assuming interest was already
Flyer Co. pays off $220,000 of 5% bonds on the maturity date. The bonds were originally issued for a $2,000 discount. Assuming interest was already paid, the journal entry to record the payment at maturity will include: A. a debit to Bonds Payable for $220,000 and a credit to Cash for $220,000. OB. a debit to Bonds Payable for $202,000 and a credit to Cash for $202,000. O C. a debit to Cash for $220,000 and a credit to Bonds Payable for $220,000 OD. a debit to Bonds Payable for $200,000, a debit to Discount on Bonds Payable for $2,000, and a credit to Cash for $202,000
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