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Fast2F Fast2F
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6 years ago
The entry to record the semiannual payment and amortization of the discount using the straight-line method on a 10%, $200,000, 5-year bond issued at 97 would be to:
A) debit Bond Interest Expense $10,600; credit Cash $10,600.
B) debit Bond Interest Expense $5,300; credit Cash $5,000; credit Discount on Bonds Payable $300.
C) debit Bond Interest Expense $5,000; credit Cash $5,000.
D) debit Bond Interest Expense $10,600; credit Cash $10,000; credit Discount on Bonds Payable $600.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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AugustisAugustis
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6 years ago
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Fast2F Author
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#2
6 years ago
I was skeptical at first but decided to give this a try.

Happy I did, you guys are so smart
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#3
5 years ago
Happy to help Slight Smile 
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