Question: Pina Colada Corp. issues 920, 10-year, 8% $1000 bonds dated January 1. 2020 at 96. The journal entry torecord the issuance wilE show a

Pina Colada Corp. issues 920, 10-year, 8% $1000 bonds dated January 1.

Pina Colada Corp. issues 920, 10-year, 8% $1000 bonds dated January 1. 2020 at 96. The journal entry torecord the issuance wilE show a O debit to Cash of $920000. O credit to Bonds Payable for $883200. O credit to Discount on Bonds Payable for $36800. O debit to Cash for $883200

Step by Step Solution

★★★★★

3.35 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Answer debit to Cash for 883200 Explanation ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Braeburn issues $3,500,000 of 8%, 15-year bonds dated January 1, 2009, that pays interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,024,000. Required 1. Prepare...

Although 256 devices could be supported on a Class C network (0 through 255 used for the host address), there are two addresses that are not useable to be assigned to distinct devices. What are the...

Legacy issues $345,000 of 5%, four-year bonds dated January 1, 2009, that pays interest semiannually on June 30 and December 31. They are issued at $332,888 and their market rate is 6% at the issue...

Pina Colada Corp. issues 920 , 10 -year, 8 %, $ 1000 bonds dated January 1, 2020, at 96 . The journal entry to record the issuance will show a debit to Cash for $ 883200 . debit to Cash of $ 920000 ....

2) On January 1, 2020, Dua Company purchased 30,000 shares of the stock of Lipa, Inc. and did obtain significant influence. The investment is intended as a long-term investment. The stock was...

You have completed the field work in connection with your audit of Alexander Corporation for the year ended December 31, 2020. The balance sheet accounts at the beginning and end of the year are...

D Question 4 Gomes Corporation issues 600. 10. ca 8% $1,000 bonds dated Jamiary 1, 2017 6. The journal entry to record the ance will show dehistoint 600 DOO Oto Ducourt ou Bonds Payable for $24.000...

WWF Promotion Inc., is a large company staging musical shows, ballets, operas, wrestling and boxing matches and other events for the public. It has been operating in several international cities...

Molina Corporation issues $5,000,000 of 10-year, 8%, bonds dated January 1, 2020, at 103. The entry to record the issuance will include all of the following. EXCEPT: a. increase in Premium on Bonds...

AutoSave . Off H 2. Intermediate Accounting II Project (3) - Excel Sign in File Home Insert Page Layout Formulas Data Review View Developer Help Easy Document Creator Foxit PDF QuickBooks Search...

f is differentiable, has domain [0, 6], reaches a maximum of 4 (attained at two different values of x, neither of which is an end point), and a minimum of 1 (attained at three different values of x,...

The Polishing Department of Major Company has the following production and manufacturing cost data for September. Materials are entered at the beginning of the process. Production: Beginning...

Which of the following describes investment companies that provide capital or funding to an organization in return for an ownership stake? Co - ops Government entities Non - profit firms Private...

On April 1, 2017, Mendoza Company borrowed 500,000 euros for one year at an interest rate of 5 percent per annum. Mendoza must make its first interest payment on the loan on October 1, 2017, and will...

You just found out that the structure chart needs a change. The Produce Reports module will have a condition, and can send a Contact Rating to three of its own subordinate modules: High Potential,...

Deoro Company has identified the following overhead activities, costs, and activity drivers for the coming year: Deoro produces two models of dishwashers with the following expected prime costs and...

Laguna Realty Co. pays weekly salaries of $8,000 on Friday for a five-day week ending on that day. What is the adjustment at the end of the accounting period, assuming that the period ends (a) On...

Miami Industries received an order for a piece of special machinery from Jay Company. Just as Miami completed the machine, Jay Company declared bankruptcy, defaulted on the order, and forfeited the...

3. (20 points) Income and Substitution Effects: Suppose that Paul enjoys eating hamburgers and hotdogs and views them as substitutable goods. Paul has an income of $70 to spend on hotdogs and...

Blue Spruce Corp. issues 6500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry to record the issuance will show a A. credit to Bonds Payable for $6240000. B. debit to Cash of...

Multiple Choice Question 161 Ayayai Corp. issues 6300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 97. The journal entry to record the issuance will show a debit to Discount on Bonds Payable...

answer both questions and just the answers Multiple Choice Question 160 Monty Corp. issues 890, 10-year, 8%, $1000 bonds dated January 1, 2020, at 94. The journal entry to record the issuance will...

Sarasota Corp. issues 5500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 105. The journal entry to record the issuance will show a credit to Cash for $5775000. debit to Cash of $5500000. debit...

What will it show? View Policies Current Attempt in Progress Cheyenne Corp. issues 4400, 10-year, 8%, $1000 bonds dated January 1, 2020, at 105. The journal entry to record the issuance will show a O...

Pronghorn Corp issues 5300, 10-year, 8%, $1000 bonds dated January 1, 2020, at 101. The journal entry to record the issuance will show a credit to Cash for $5353000 O credit to Bonds Payable for...