For this question and the next, please use the following information: DDD Company issued $100,000, 5-year term bonds at 102 with 6% interest. What is the entry when the bonds are issued? Debit Cash $102,000, Credit Bonds Payable $102,000 Debit Cash $102,000 Credit Premium on Bonds $2,000, Credit Bonds Payable $100,000 Debit Cash $100,000 Debit Premium on Bonds $2,000, Credit Bonds Payable $102,000 Debit Cash $102,000 Credit, Interest Expense $2,000, Credit Bonds Payable $100,000

Answer rating: 100% (QA)

The correct entry when the bonds are issued is Debit Cash 102000 C... View the full answer