Keys Inc. issued 100 bonds with a face value of $1,000 and a rate of 8% at
Question:
Keys Inc. issued 100 bonds with a face value of $1,000 and a rate of 8% at $1,025 each. The journal entry to record this transaction includes ________.
A. A credit to Bonds Payable for $102,500
B. A credit to cash for $102,500
C. A debit to cash for $100,000
D. A credit to Premium on Bonds Payable for $2,500
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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