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please need to know if 1 and 2 are correct 1) A bond is a formal debt instrument that obligates the borrower to repay a
please need to know if 1 and 2 are correct
1) A bond is a formal debt instrument that obligates the borrower to repay a stated amount at the maturity date. This stated amount is referred to as the: A) Lease. B) Interest. Principal or face amount. D) Note. 2) Yanik Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2024, at 97. The journal entry to record the issuance will show a A) Credit to Bonds Payable $4,850,000 B) Credit to Cash $4,850,000 Debit to Cash $5,000,000 D) Debit to Discount on Bonds Payable $150,000 5000 x 8 *
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