Business, 20.02.2020 23:02, GreenHerbz206
On January 1, Parson Freight Company issues 7 % , 10-year bonds with a par value of $2,000,000. The bonds pay interest semiannually. The market rate of interest is 8% and the bond selling price was $1,864,097. The bond issuance should be recorded as: Multiple Choice Debit Cash $1,864,097; debit Discount on Bonds Payable $135,903; credit Bonds Paysble $2,000,000. Debit Cash $1,864,097; credit Bonds Payable $1,864,097, Debit Cash $2,000,000; credit Bonds Payable $2,000,000 Debit Cash $2,000,000, credit Bonds Payable $1864,097; credit Discount on Bos Payable $135,903. Debit Cash $1864,097; debit Interest Expense $135,903, credit Bonds Payable $2,000,000 Charger Company's most recent balance sheet reports total assets of $27,000,000, total liabilities of $15,000,000 and t debt to equity ratio for the period is (rounded to two decimals) and total equity of $12,000,000.
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On January 1, Parson Freight Company issues 7 % , 10-year bonds with a par value of $2,000,000. The...
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