Danielle S
New member
The Torrez Corporation issues 1,000, 10-year bonds, 8%, $1,000 bonds dated January 1, 2000, at 97. The journal entry to record the issuance will show a
a. debit to Cash of $1,000,000.
b. credit to Discount on Bonds Payable for $30,000.
c. credit to Bonds Payable for $970,000.
d. debit to Cash for $970,000.
a. debit to Cash of $1,000,000.
b. credit to Discount on Bonds Payable for $30,000.
c. credit to Bonds Payable for $970,000.
d. debit to Cash for $970,000.