On Jan. 1 Year 1, Foxcroft Inc. issued 110 bonds with a face value of $850 for $96,700. The bonds had a stted rate of 10% and paid interest semi-annually.

What is the journal entry to record the issuance of the bond ?

eBook On Jan. 1. Year 1, Foxcroft Inc. Issued 110 bonds with a face value of $850 for $96,700. The bonds had a stated rate of 10% and paid Interest semi-annually. What is the journal entry to record the issuance of the bonds? If an amount box does not require an entry, leave it blank. Cash Jan. : Premium on Bonds Payable 96,700 Bonds Payable 4,675 X