Question: Question 1 (2 points) Pizza Planet issues 6%, 10-year bonds with a face amount of $80,000 on January 1, 2019. The market interest rate
Question 1 (2 points) Pizza Planet issues 6%, 10-year bonds with a face amount of $80,000 on January 1, 2019. The market interest rate for bonds of similar risk and maturity is 8%. Interest i paid semi-annually on June 30 and December 31. Assume the bond issues for $70,000. When the journal entry is made to record the issuance, the amount to debi to cash is: $70,000 $80,000 $70,000 plus the first 6 months of interest None of the above.
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