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Fenway Corporation Issued a $20,000,10-Year,10% Bond Dated January 1,at 102

Question 107

Multiple Choice

Fenway Corporation issued a $20,000,10-year,10% bond dated January 1,at 102.The journal entry to record the issuance of the bond will include a:

A) debit to Cash for $20,000.
B) debit to Cash for $20,400.
C) credit to Bonds Payable for $20,400.
D) debit to Discount on Bonds Payable for $400.

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