Question
Your company issues $500,000 in bonds at a price of 98. The journal entry used to record the issuance will include a debit to: Cash
Your company issues $500,000 in bonds at a price of 98. The journal entry used to record the issuance will include a debit to:
| Cash for $490,000, a debit to Discount on Bonds Payable for $10,000, and a credit to Bonds Payable for $500,000. | ||
| Cash for $490,000, a credit to Discount on Bonds Payable for $10,000, and a credit to Bonds Payable for $500,000. | ||
| Bonds Payable for $500,000, a credit to Discount on Bonds Payable for $10,000, and a credit to Cash for $490,000. | ||
| Bonds Payable for $490,000, a debit to Discount on Bonds Payable for $10,000, and a credit to Cash for $500,000. |
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Internal Quality Systems Auditing
Authors: Paul F. Lewis
1st Edition
1570744076, 978-1570744075
