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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
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 $55,000, a credit to Bonds Payable for $50,000, and a credit to Interest Payable for $5,000. D.Cash for $50,000, a debit to Interest Expense for $5,000, and a credit to Bonds Payable for $55,000.
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