Yanik Corporation issues 1,000, 10-year, 8%, $1,000 bonds dated January 1, 2010, at 97. The journal entry to record the issuance will show a
a. debit to Cash of $1,000,000.
b. debit to Discount on Bonds Payable for $30,000.
c. credit to Bonds Payable for $970,000.
d. credit to Cash for $970,000.
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
(Save $1 )
One time Pay
(Save $5 )
Billed Monthly
*First month only
You can see the logs in the Dashboard.
