The Hayden Corporation issues 1,000, 10-year, 8%, $2,000 bonds dated January 1 at 92. The journal entry to record the issuance will show a Select one: a. credit to Discount on Bonds Payable for $160,000 b. debit to Cash of $2,000,000 c. credit to Bonds Payable for $2,000,000 d. credit to Cash for $1,840,000

The Hayden Corporation issues 1,000, 10-year, 8%, $2,000 bonds dated January 1 at 92. The journal entry to record the issuance will show a Select one: a. credit to Discount on Bonds Payable for $160,000 b. debit to Cash of $2,000,000 c. credit to Bonds Payable for $2,000,000 d. credit to Cash for $1,840,000

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 17MC: Huang Inc. issued 100 bonds with a face value of $1,000 and a 5-year term at $960 each. The journal...

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Huang Inc. issued 100 bonds with a face value of $1,000 and a 5-year term at $960 each. The journal entry to record this transaction includes ________. A. a debit to Bonds Payable for $100,000 B. a debit to Discount on Bonds Payable for $4,000 C. a credit to cash for $96,000 D. a credit to Discount on Bonds Payable for $4,000
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