Ward Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2013, at 104. The journal entry to record the issuance will show a Question 7 options: debit to Cash of $5,000,000. credit to Premium on Bonds Payable for $200,000. credit to Bonds Payable for $5,040,000. credit to Cash for $5,020,000.

Ward Corporation issues 5,000, 10-year, 8%, $1,000 bonds dated January 1, 2013, at 104. The journal entry to record the issuance will show a Question 7 options: debit to Cash of $5,000,000. credit to Premium on Bonds Payable for $200,000. credit to Bonds Payable for $5,040,000. credit to Cash for $5,020,000.

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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