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On January 1, 2025, Cowell Services issued $200,000 of 4% bonds that mature in ten years. The bonds were issued at 98. The journal entry to issue bonds would be: O Cash Bonds Payable O Cash OO Discount on Bonds Payable Bonds Payable O Cash Bonds Payable O Bonds Payable Discount on Bonds Payable Cash 200,000 196,000 4,000 196,000 200,000 200,000 200,000 196,000 4,000 196,000

On January 1, 2025, Cowell Services issued $200,000 of 4% bonds that mature in ten years. The bonds were issued at 98. The journal entry to issue bonds would be: O Cash Bonds Payable O Cash OO Discount on Bonds Payable Bonds Payable O Cash Bonds Payable O Bonds Payable Discount on Bonds Payable Cash 200,000 196,000 4,000 196,000 200,000 200,000 200,000 196,000 4,000 196,000

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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On January 1, 2025, Cowell Services issued $200,000 of 4% bonds that mature in ten years. The bonds were issued at 98. The journal entry to issue bonds would be: O O Cash Bonds Payable Cash Discount on Bonds Payable Bonds Payable Cash Bonds Payable Bonds Payable Discount on Bonds Payable Cash 200,000 196,000 4,000 196,000 200,000 200,000 200,000 196,000 4,000 196,000
Transcribed Image Text:On January 1, 2025, Cowell Services issued $200,000 of 4% bonds that mature in ten years. The bonds were issued at 98. The journal entry to issue bonds would be: O O Cash Bonds Payable Cash Discount on Bonds Payable Bonds Payable Cash Bonds Payable Bonds Payable Discount on Bonds Payable Cash 200,000 196,000 4,000 196,000 200,000 200,000 200,000 196,000 4,000 196,000
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