Previous Page Next Page Page 25 of 47 Question 25 (2.5 points) The city of South Park issued bonds with a face value of $100,000 at 97.5. The journal entry to record this issuance will include A debit to Discount on Bonds Payable of $2,500 A debit to Cash of $100,000 A credit to Bonds Payable of $97,500 All of the above Previous Page Next Page Page 25 of 47 Question 20 (2.5 points) Using the following information, the journal entry to record the April 15, 2017 transaction will be: January 1, 2017: Pacific Corporation reacquires 2,000 shares of its $10 par common stock for $44 per share. April 15, 2017: Pacific reissues 1,000 of the above mentioned shares for $50 per share 50,000 44,000 6,000 50,000 44,000 Cash Treasury Stock Investment Income on Treasury Stock Cash Treasury Stock Paid-in Capital, Treasury Stock Cash Treasury Stock Gain on Sale of Treasury Stock Cash Treasury Stock Paid-in Capital Treasury Stock 6,000 50,000 44,000 6,000 50,000 10,000 40,000