Medhurst Corporation issued $89,200 in bonds for $86,000. The bonds had a stated rate of 5% and pay interest quarterly What is the journal entry to record the sale of the bonds? If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash

Medhurst Corporation issued $89,200 in bonds for $86,000. The bonds had a stated rate of 5% and pay interest quarterly What is the journal entry to record the sale of the bonds? If an amount box does not require an entry, leave it blank. Interest Expense Discount on Bonds Payable Cash

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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Medhurst Corporation issued $89,200 in bonds for $86,000. The bonds had a stated rate of 5% and pay interest quarterly.
What is the journal entry to record the sale of the bonds? If an amount box does not require an entry, leave it blank.
Interest Expense
Discount on Bonds Payable
Cash

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