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Concord Corporation issues 10, 10- year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal entry at issuance credit to bonds Debit to Cash for payable of $9,800 $10,000 credit to Discount debit to Cash for on Bonds Payable for $200 $9,800

Concord Corporation issues 10, 10- year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal entry at issuance credit to bonds Debit to Cash for payable of $9,800 $10,000 credit to Discount debit to Cash for on Bonds Payable for $200 $9,800

FINANCIAL ACCOUNTING
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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Concord Corporation issues 10, 10- year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal entry at issuance credit to bonds Debit to Cash for payable of $9,800 $10,000 credit to Discount debit to Cash for on Bonds Payable for $200 $9,800
Transcribed Image Text:Concord Corporation issues 10, 10- year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal entry at issuance credit to bonds Debit to Cash for payable of $9,800 $10,000 credit to Discount debit to Cash for on Bonds Payable for $200 $9,800
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