The Colson Company issued $300,000 bonds at 103 on January 1, 2017. The bonds are due January 1, 2022, with interest payableeach July 1, and January 1. The Colson Company records Straight Line amortization semiannuallyPrepare Colson's Journal entry for January 1 issue of bondsO CashPremium on Bonds PayableBonds Payable$309 000$9.000$300.000O Cash$291.000Premium on Bonds Payable $9.000Bonds PayableO CashDiscount on Bonds Payable $9,000Bonds PayableO Bonds PayablePremium on Bonds Payable $9.000CashS300 000$291.000$300.000$291 000$300.000

The Colson Company issued $300,000 bonds at 103 on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1, and January 1. The Colson Company records Straight Line amortization semiannually Prepare Colson's Journal entry for January 1, issue of bonds O Cash $309 000 Premium on Bonds Payable $9 000 Bonds Pavable $300 000 O Cash Premium on Bonds Payable $9.000 $291.000 Bonds Payable O Cash Discount on Bonds Payable $9,000 Bonds Payable O Bonds Payable Premium on Bonds Payable $9.000 $300 000 $291,000 S300 000 $291.000 Cash $300 000

The Colson Company issued $300,000 bonds at 103 on January 1, 2017. The bonds are due January 1, 2022, with interest payable each July 1, and January 1. The Colson Company records Straight Line amortization semiannually Prepare Colson's Journal entry for January 1, issue of bonds O Cash $309 000 Premium on Bonds Payable $9 000 Bonds Pavable $300 000 O Cash Premium on Bonds Payable $9.000 $291.000 Bonds Payable O Cash Discount on Bonds Payable $9,000 Bonds Payable O Bonds Payable Premium on Bonds Payable $9.000 $300 000 $291,000 S300 000 $291.000 Cash $300 000

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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