Medhurst Corporation issued $89,200 in bonds for $86,000. The bonds had a stated rate of 5% and pay interest quarterly What is the journal entry to record the sale of the bonds? If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash

Medhurst Corporation issued $89,200 in bonds for $86,000. The bonds had a stated rate of 5% and pay interest quarterly What is the journal entry to record the sale of the bonds? If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 11EA: Medhurst Corporation issued $90,000 in bonds for $87,000. The bonds had a stated rate of 8% and pay...

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Medhurst Corporation issued $89,200 in bonds for $86,000. The bonds had a stated rate of 5% and pay interest quarterly.
What is the journal entry to record the sale of the bonds? If an amount box does not require an entry, leave it blank.
Interest Expense
Discount on Bonds Payable
Cash

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