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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
wrote...
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Posts: 5977
Rep: 293 0
9 years ago
Refunding bonds were issued by an Enterprise Fund with a face value of $15,000,000 at a 1% discount. Issuance costs were $225,000. The entry to record the issuance of the refunding bonds would be
      Debit   Credit
A.   Cash
Expenditures
Other Financing Uses – Discount
   Other Financing Sources – Bonds   $14,625,000
225,000
150,000   


$15,000,000
B.   Cash
Expenditures
   Other Financing Sources – Bonds   $14,625,000
225,000
   

$14,850,000
C.   Cash
Unamortized Deferred Charges/Discount
   Bond Payable   $14,625,000
375,000
   

$15,000,000
D.   Cash   
Bond Issuance Expense
Unamortized Discount
   Bonds Payable   $14,625,000
225,000
150,000
   


$15,000,000
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3 Replies
Diesel
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Answer accepted by topic starter
f_zah1f_zah1
wrote...
#1
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9 years ago
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goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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