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On January 1,2019,Mendez Company Issued 400 of Its $1,000,ten-Year,9% Bonds

Question 55

Essay

On January 1,2019,Mendez Company issued 400 of its $1,000,ten-year,9% bonds.The bonds were dated January 1,2019,and interest is paid annually each December 31.The bonds were issued at 99.
Part A: Prepare the entry to record the issuance of the bonds on January 1,2019:
Part B: Were the bonds issued at par,at a premium,or at a discount? How did you arrive at your answer?

Correct Answer:

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Part A:
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The bonds were issued ...

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