The journal entry to record $300,000 of bonds that were issued at 107 would be to:
A) debit Cash,$321,000;credit Bonds payable,$321,000.
B) debit Cash,$321,000;credit Bonds payable,$300,000;credit Premium on bonds payable,$21,000.
C) debit Cash,$300,000;credit Bonds payable,$300,000.
D) debit Cash,$300,000;debit Discount on bonds payable,$21,000;credit Bonds payable,$321,000.
Correct Answer:
Verified
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