Burn's Alley issued $1,000,000 of 10-year 8% bonds at par value on June 30, 2018. What is the journal entry for this transaction? Question 9 options: Debit Interest Expense $1M, Credit Cash $1M Debit Cash $1M, Credit Bonds Payable $1M No journal entry required. Debit Bonds Payable $1M, Credit Cash $2M

Burn's Alley issued $1,000,000 of 10-year 8% bonds at par value on June 30, 2018. What is the journal entry for this transaction? Question 9 options: Debit Interest Expense $1M, Credit Cash $1M Debit Cash $1M, Credit Bonds Payable $1M No journal entry required. Debit Bonds Payable $1M, Credit Cash $2M

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Subject :- Accountion
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