question archive A corporation is authorized to issue 5,000,000 of 6% 10-years bonds dated July 1, 2019 with interest payments on December 31 and June 30
A corporation is authorized to issue 5,000,000 of 6% 10-years bonds dated July 1, 2019 with interest payments on December 31 and June 30
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A corporation is authorized to issue 5,000,000 of 6% 10-years bonds dated July 1, 2019 with interest payments on December 31 and June 30. When the bonds are issued on November 1, 2019, corporation receives cash of 5,150,000 including the accrued interest.
The journal entry to record the issuance of the bonds would include:
a. 150,000 bond discount
b. 150,000 bond premium
c. 50,000 bond discount
d. 50,000 bond premium
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