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Home Q & A Board Other Fields Homework Help Business Accounting
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tivo tivo
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7 years ago
$400,000 of 12%, 10-year bonds were sold for $380,000 on January 1. The bonds require semiannual interest payments on June 30 and December 31. The entry to record the June 30 interest payment on the bonds would be to:
A) debit Interest Expense $24,000; credit Cash, $24,000.
B) debit Interest Expense $23,000; debit Discount on bonds payable, $1,000; credit Cash, $24,000.
C) debit Interest Expense $25,000; credit Cash, $25,000.
D) debit Interest Expense $25,000; credit Discount on bonds payable, $1,000; credit Cash, $24,000.
Textbook 
Financial Accounting

Financial Accounting


Edition: 3rd
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largerthanlifelargerthanlife
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7 years ago
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tivo Author
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#2
7 years ago
Luckily this is the last business course I'll be taking. Thank you greatly
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