On January 1, 2019, Grant Corporation issued $4,000,000, 10-year, 8% bonds at 102. Interest i payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2019 includes a O credit to Premium on Bonds Payable 80,000 debit to Cash for 4,000,000 debit to Premium on Bonds Payable 80,000 Dondc Pavable for 4.080.000

On January 1, 2019, Grant Corporation issued $4,000,000, 10-year, 8% bonds at 102. Interest i payable semiannually on January 1 and July 1. The journal entry to record this transaction on January 1, 2019 includes a O credit to Premium on Bonds Payable 80,000 debit to Cash for 4,000,000 debit to Premium on Bonds Payable 80,000 Dondc Pavable for 4.080.000

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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