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  3. 5) your company sells $110,000 of bonds for an iss

5) Your company sells $110,000 of bonds for an issue price of $105,050. Which of...

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Accounting

5) Your company sells $110,000 of bonds for an issue price of $105,050. Which of the following statements is correct?

A) The bond sold at a price of 95.50, implying a discount of $9,900.

B) The bond sold at a price of 95.50, implying a discount of $4,950.

C) The bond sold at a price of 47.75, implying a premium of $4,950.

D) The bond sold at a price of 47.75, implying a premium of $9,900.

6) Your company sells $53,000 of one-year, 12% bonds for an issue price of $45,500. The journal entry to record this transaction will include a credit to Bonds Payable in the amount of: rev: 06_25_2016_QC_CS-54689 A) $45,500. B) $53,000. C) $51,860. D) $59,360.

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