Tyrant4life
07.03.2020 •
Business
Pharoah Company issued $530,000 of 5-year, 5% bonds at 97 on January 1, 2020. The bonds pay interest annually. Your answer is partially correct. Try again. Prepare the journal entry to record the issuance of the bonds
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Ответ:
Dr. Cr.
Cash $514,100
Discount on bond payable $15,900
Bond Payable $530,000
Explanation:
Cash is received against the Bond issued is debited due to its debit nature and the bond payable account is credited because it is a liability and its nature is credit.
Cash Received = ( 530,000 / 100 ) x 97 = $514,100
Discount = (530,000/100) x (100 - 97) = $15,900
Ответ:
is this a question?
if its true or false its false