Question
Red Co. issued bonds at 104 with a face value of $8,000,000 on January 1, 2020. The bonds are due in 5 years with a
Red Co. issued bonds at 104 with a face value of $8,000,000 on January 1, 2020. The bonds are due in 5 years with a state rate of interest of 8%. The journal entry to record the issuance on January 1, 2020 would include which of the following?
- A. Cr. Premium on Bonds Payable $320,000
- B. Cr. Bonds Payable $8,320,000
- C. Dr. Cash $7,680,000
- D. Dr. Discount on Bonds Payable $320,000
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Social Work Policy Practice Changing Our Community Nation And The World
Authors: Jessica A Ritter
3rd Edition
179354087X, 9781793540874
