Question: On January 1, a company issues bonds dated January 1 with a par value of $330,000. The bonds mature in 5 years. The contract rate

On January 1, a company issues bonds dated January 1 with

On January 1, a company issues bonds dated January 1 with a par value of $330,000. The bonds mature in 5 years. The contract rate is 9% and Interest is paid semiannually on June 30 and December 31. The market rate is 8% and the hands are sold for $343.195. The journal entry to record the issuance of the bonds Multiple Choice O Debit Cash $330.000, debit Premium on Bonds Payable $13.395 credit Bonds Payable $343,395 O Debit Bonds Payable $330,000 debit Bond Interest Expense $13,395, credit Cash $343,395 Debit Cash $347.195 credit Ronch Phyutale $340,395 Debit Cash $313,395 credit Discount on Bonds loyable $19.995; credit Bonds byable $330.000. O Debit Cash $313,395 credit Premium on Doncs l'ayable $13,995; credit Bonds layable $330.000

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