The journal entry on the maturity date to record the retirement of bonds with a face value
Question:
The journal entry on the maturity date to record the retirement of bonds with a face value of $2,500,000 that were issued at a $90,000 discount includes
a. A debit to Discount on Bonds Payable for $90,000.
b. A credit to Cash for $2,590,000.
c. A debit to Bonds Payable for $2,500,000.
d. All of the above.
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the... Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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Related Book For 
Financial Accounting
ISBN: 978-0134725987
12th edition
Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.
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