The entry made by Webster Company to record issuance of the bonds payable at December 31, 2011, includes:
A) A debit to Cash of $1,000,000.
B) A debit to Discount on Bonds Payable of $30,000.
C) A credit to Bonds Payable of $970,000.
D) A credit to Bond Interest Payable of $30,000.

Question

Quizplus · Accepted Answer

The Answer of The entry made by Webster Company to record issuance of the bonds payable at December 31, 2011, includes:
A) A debit to Cash of $1,000,000.
B) A debit to Discount on Bonds Payable of $30,000.
C) A credit to Bonds Payable of $970,000.
D) A credit to Bond Interest Payable of $30,000.

The Entry Made by Webster Company to Record Issuance of the Bonds