Five thousand bonds with a face value of $1000 each are sold at 97.Recording the issuance includes a(n)
A) Increase to Cash and an increase to Bonds Payable for $ 4850000.
B) Increase to Cash for $4850000 and to Discount on Bonds Payable for $150000 and an increase to Bonds Payable for $5000000.
C) Increase to Cash for $4850000 and an increases to Premium on Bonds Payable for $150000 and to Bonds Payable for $5000000.
D) Increase to Cash for $5000000 a decrease to Discount on Bonds Payable for $150000 and an increase to Bonds Payable for $4850000.
Correct Answer:
Verified
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