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Molina Corporation issues 5,000, 10 year, 8%, $1,000 par value bonds dated January 1, 2017, at a price of $1,030 per bond. The journal entry
Molina Corporation issues 5,000, 10 year, 8%, $1,000 par value bonds dated January 1, 2017, at a price of $1,030 per bond. The journal entry to record the bond issuance will includes debit to Cash of $5,000,000 credit to Cash for $5,150,000 credit to Bonds Payable for $5,000,000 debit to Premium on Bonds Payable for $150,000
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