Waterway Industries issues 2300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal entry to record the issuancewill show aO debit to Cash of $2300000.O credit to Bonds Payable for $2346000.O debit to Cash for $2254000.O credit to Discount on Bonds Payable for $46000.

Bonds are securities issued by the entity for the purpose of raising funds. It is an obligation for…

Waterway Industries issues 2300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal entry to record the issuance will show a debit to Cash of $2300000. credit to Bonds Payable for $2346000. debit to Cash for $2254000. O credit to Discount on Bonds Payable for $46000.

Waterway Industries issues 2300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 98. The journal entry to record the issuance will show a debit to Cash of $2300000. credit to Bonds Payable for $2346000. debit to Cash for $2254000. O credit to Discount on Bonds Payable for $46000.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 17MC: Huang Inc. issued 100 bonds with a face value of $1,000 and a 5-year term at $960 each. The journal...

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