Your company issues $50,000 of one-year, 10% bonds at face value. The journal entry to record this transaction will include a debit to:

a)		Cash and a credit to Bonds Payable for $50,000.
b)		Cash and a credit to Bonds Payable for $55,000.
c)		Cash for $50,000, a debit to Interest Expense for $5,000, and a credit to Bonds Payable for $55,000.
d)		Cash for $55,000, a credit to Bonds Payable for $50,000, and a credit to Interest Payable for $5,000.

2)

At what governmental level are corporate charters issued?

		Federal
		International
		State
		Local