43)Manning Corp issues 10 year , 8% bonds with a face value of $5,000,000, 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)credit to Cash for $4,850,000. C)credit to Bonds Payable for $4,850,000. D)debit to Discount on Bonds Payable for $150,000.
43)Manning Corp issues 10 year , 8% bonds with a face value of $5,000,000, 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)credit to Cash for $4,850,000. C)credit to Bonds Payable for $4,850,000. D)debit to Discount on Bonds Payable for $150,000.
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 14MC: Whirlie Inc. issued $300,000 face value, 10% paid annually, 10-year bonds for $319,251 when the...
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43)Manning Corp issues 10 year , 8% bonds with a face value of $5,000,000, dated January 1, 2020, at 97. The
A)debit to Cash of $5,000,000.
B)credit to Cash for $4,850,000.
C)credit to Bonds Payable for $4,850,000.
D)debit to Discount on Bonds Payable for $150,000.
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