McDonald Sales prepared a debenture issue of $20 000 dated 1 January 2013. The debentures have a stated rate of 3% and a term of 6 years. The debenture issue was delayed, and the debentures were finally sold on 1 March 2013 at par. The journal entry to record the issue of the debentures on 1 March 2013 will include which of the following?
A)Credit to Interest payable of $100
B)Debit to Cash for $20 300
C)Credit to Debentures payable for $20 100
D)Credit to Cash for $20 110

Question

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The Answer of McDonald Sales prepared a debenture issue of $20 000 dated 1 January 2013. The debentures have a stated rate of 3% and a term of 6 years. The debenture issue was delayed, and the debentures were finally sold on 1 March 2013 at par. The journal entry to record the issue of the debentures on 1 March 2013 will include which of the following?
A)Credit to Interest payable of $100
B)Debit to Cash for $20 300
C)Credit to Debentures payable for $20 100
D)Credit to Cash for $20 110

McDonald Sales Prepared a Debenture Issue of $20 000 Dated