Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2030, cinco corporation issued $5,70

On January 1, 2030, Cinco Corporation issued $5,700,000,10-year, 10% bonds at 101 . Interest is...

80.2K

Verified Solution

Question

Accounting

image

On January 1, 2030, Cinco Corporation issued $5,700,000,10-year, 10% bonds at 101 . Interest is payable annually on January 1 . What journal entry will Cinco Corporation record on January 1, 2030? DR: Cash $5,700,00 and Discount on Bonds Payable $57,000; CR: Bonds Payable $5,757,000 DR: Cash \$5,757,000; CR: Bonds Payable \$5,757,000 DR: Cash $5,700,000 and Premium on Bonds Payable $57,000; CR: Bonds Payable \$5,757,000 DR: Cash \$5,757,000; CR: Bonds Payable $5,700,000 and Premium on Bonds Payable $57,000 DR: Cash \$5,700,000; CR: Bonds Payable $5,700,000

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!
Become a Member

Other questions asked by students

Q

Are you more likely to purchase a brand mentioned by an athlete on a social media...

Statistics
Q

1. Describe the gene and protein E. coli beta-glucuronidase. What is its biological function? 2. Describe the...

Biology
Q

(TCO 4) Describe PID control.

Electrical Engineering
Q

I. The government in a certain economy has offered all business significant investment tax credits. Firms...

Economics
Q

solve: y''+8y'+7'=f(t), y(0)=y'(0)=0, expressing your answer in terms of a convolution, using partial fractions for: i)f(t)=e^t ii)f(t)=t^1/2 iii) f(t)=2sin(2t)

Advance Math
Q

Question 2 25 points Two charges q 4 C and q 4 C are located...

Physics
Q

10 Graph y 2 3 from Ol y 20 0 15 10 5 0 5

Geometry
Q

Mandrake is interested in evaluating the course s effectiveness in propagating safety in the laboratories...

Statistics
Q

The CFO of Uni-Foam Aps believes that the new product series will be a good...

Accounting
Q

Inventory Costing Methods and the Perpetual Method Lambeth Company experienced the following events in February:...

Accounting
Q

11681&cmid=1003939&page=35 nt Links Online Online n LSUS-Display Course Details page V 40 SUMMER2023 Week 3...

Accounting
Q

Madison Industries has equivalent units of 4,000 for materials and for conversion costs. Total manufacturing...

Accounting