Business, 05.05.2020 08:35, romeojose2005

Your company issues $50,000 of one-year, 10% bonds at face value. The journal entry to record this transaction will include a debit to:

A. Cash and a credit to Bonds Payable for $50,000
B. Cash for $55,000, a credit to Bonds Payable for $50,000, and a credit to Interest Payable for $5,000
C. Cash and a credit to Bonds Payable for $55,000
D. Cash for $50,000, a debit to Interest Expense for $5,000, and a credit to Bonds Payable for $55,000.

Answers: 2

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Your company issues $50,000 of one-year, 10% bonds at face value. The journal entry to record this t...