ACCOUNT Bonds Payable ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Balance Jan. 750,000 600,000 1,050,000 Retire bonds 2 150,000 June 30 Issue bonds 450,000 ACCOUNT Discount on Bonds Payable ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Balance Jan. 33,750 21,750 51,750 Retire bonds 2 12,000 Issue bonds June 30 30,000 31 Amortize discount Dec. 2,625 49,125
ACCOUNT Bonds Payable ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Balance Jan. 750,000 600,000 1,050,000 Retire bonds 2 150,000 June 30 Issue bonds 450,000 ACCOUNT Discount on Bonds Payable ACCOUNT NO. Balance Debit Credit Debit Credit Date Item Balance Jan. 33,750 21,750 51,750 Retire bonds 2 12,000 Issue bonds June 30 30,000 31 Amortize discount Dec. 2,625 49,125
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.3.3MBA
Related questions
Question
On the basis of the details of the following bonds payable and related discount accounts, indicate the items to be reported in the financing activities section of the statement of
![ACCOUNT Bonds Payable
ACCOUNT NO.
Balance
Debit
Credit
Debit
Credit
Date
Item
Balance
Jan.
750,000
600,000
1,050,000
Retire bonds
2
150,000
June
30
Issue bonds
450,000
ACCOUNT Discount on Bonds Payable
ACCOUNT NO.
Balance
Debit
Credit
Debit
Credit
Date
Item
Balance
Jan.
33,750
21,750
51,750
Retire bonds
2
12,000
Issue bonds
June
30
30,000
31
Amortize discount
Dec.
2,625
49,125](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1ea92b0b-a719-495c-b716-9bc0181a0edd%2F1e6eba69-ba21-4c32-afc9-ea0d9010e042%2Fmy141ib.jpeg&w=3840&q=75)
Transcribed Image Text:ACCOUNT Bonds Payable
ACCOUNT NO.
Balance
Debit
Credit
Debit
Credit
Date
Item
Balance
Jan.
750,000
600,000
1,050,000
Retire bonds
2
150,000
June
30
Issue bonds
450,000
ACCOUNT Discount on Bonds Payable
ACCOUNT NO.
Balance
Debit
Credit
Debit
Credit
Date
Item
Balance
Jan.
33,750
21,750
51,750
Retire bonds
2
12,000
Issue bonds
June
30
30,000
31
Amortize discount
Dec.
2,625
49,125
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