Multiple Choice
Yanik Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2020, at 97.The journal entry to record the issuance will show a
A) debit to Cash of $5,000,000.
B) debit to Discount on Bonds Payable for $150,000.
C) credit to Bonds Payable for $4,850,000.
D) credit to Cash for $4,850,000.
Correct Answer:
Verified
Correct Answer:
Verified
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