Question: The Freeman Corporation issues 2,000, 10-year, 8%, $1,000 bonds dated January 1 at 96. The journal entry to record the issuance will show a a.

The Freeman Corporation issues 2,000, 10-year, 8%, $1,000 bonds dated January 1 at 96. The journal entry to record the issuance will show a a. credit to Bonds Payable for $1,920,000 b. credit to Discount on Bonds Payable for $80,000 c. debit to Cash for $1,920,000 d. debit to Cash of $2,000,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

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!

help plz q22 Wayne Company issues 900,10 -year, 8%,$1,000 bonds dated January 1,2020 , at 96 . The journal entry to record the issuance will show a credit to Discount on Bonds Payable for $36,000....

Bramble Corp. issues 820,10-year, 8%,$1000 bonds dated January 1,2020, at 96 . The journal entry to record the issuance will show a debit to Cash for $787200 debit to Cash of $820000. credit to Bonds...

Gomez Corporation issues 500, 10 year, 8% $1000 bonds dates jan 1 2010 at 96. The journal entry to record the issuance will show a : A. credit to conds payable for 480000. B.credut ti discount on...

Meera corporation issued 2, 090, 7%, 5-year, $1, 000 bonds dated January 1, 2014, at 100. Prepare the journal entry to record the sale of these bonds on January 1, 2014. (Credit account titles are...

Please answer the questions Question 9 2 pts Bonds with a face amount $1.000.000 are sold at96. The entry to record the issuance Premium on Bonds Payable 40,000 Payabile 960,000 960 000 Pemum on...

Pronghorn Corp issues 930, 10-year, 8%, $1000 bonds dated January 1, 2017, at 96. The journal entry to record the issuance will show a debit to Cash for $892800. credit to Discount on Bonds Payable...

Question 8 of 20 View Policies Current Attempt in Progress a Martinez Corp. issues 880, 10-year, 8%, $1000 bonds dated January 1, 2020, at 96. The journal entry to record the issuance will show O...

1. 2. 3. Cheyenne Corp, issues 840,10 -year, 8%,51000 bonds dated January 1,2020, at 97 . The journal entry to record the issuance will show a debit to Cash of 5840000 . cred to Bonds Payable for...

D Question 4 4 pts Smith & Wesson Corporation issues 15 year, 4%, face value $10,000,000 bonds dated January 1, 2020. at 98. The journal entry to record the issuance will show a: a credit to Bonds...

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...

Cite and explain the importance and impact of two sections of legislation which govern Human Rights, Ethics, and Fairness, on applicants or holders of these statuses In Canada . This post should...

A gas has an initial pressure of 87.0 torr and an initial volume of 28.5 mL. What is its new volume if pressure is changed to 206 torr? Assume temperature and amount are held constant.

when would an agency disclosure not have to be provided

Find the radius of gyration of a plate covering the region bounded by x=3, x=5, y=0, and y=4 with respect to the y-axis.

4.46 A campus finance officer finds that, for all parking tickets issued, fines are paid for 78% of the tickets. The fine is $2. In the most recent week, 620 parking tickets have been issued. a. Find...

4.42 You are investigating the punctuality of the airlines in Asia. Your survey tells you that, out of 15 airlines, 80% of them are likely to be late at least once a month. Assume the punctuality...

4.44 A family of mutual funds maintains a service that allows clients to switch money among accounts through a telephone call. It was estimated that 3.2% of callers either get a busy signal or are...