On January 1, 2021, Sunland Corporation issued $4700000, 10-year, 7% bonds at 104. Interest is...
50.1K
Verified Solution
Link Copied!
Question
Accounting
On January 1, 2021, Sunland Corporation issued $4700000, 10-year, 7% bonds at 104. Interest is payable annually on January 1. The journal entry to record this transaction on January 1, 2021 is O Cash Bonds Payable 4700000 4700000 O Cash Bonds Payable 4888000 4888000 4888000 O Cash Bonds Payable Premium on Bonds Payable 4700000 188000 O Premium on Bonds Payable Cash Bonds Payable 188000 4700000 4888000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
